Varde Partners And Hawkins Way Capital Acquire 1,220-Keys Hotel In Boston For $233M
39 Dalton Street, Boston, Massachusetts 02199, United States
$233,000,000
$211/SF
Building Size
1,100,000 SF
Asset Type
Hotel
Closing
Mar 2, 2022
AI
The hotel located at 39 Dalton St in Boston, MA has been sold in a transaction that took place on March 3, 2022. The property, with a total of 1,220 keys, was sold by Seller Host Hotels & Resorts to Buyer Varde Partners - Francisco Milone & Hawkins Way Capital - Ross Walker. The sale price for the hotel was $233,000,000, with a total square footage of 1,100,000 and a price per square foot of $212.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $233,000,000
- Address: 39 Dalton St, Boston, MA
- Market: Boston, MA
- Buyer: Varde Partners - Francisco Milone & Hawkins Way Capital - Ross Walker
- Seller: Host Hotels & Resorts
- Keys: 1,220
- Square Footage: 1,100,000
- Price per Square Foot: $212
The deal was brokered by Francisco Milone and Hawkins Way Capital represented by Ross Walker.
Players
Boston Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93