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Jamsan Management Acquires Fairfield Inn & Suites In Middleboro For $9.25M
SOLD
$9,250,000
Massachusetts
See Similar DealsHotel
Sold 11/01/2023
SOLD
Jamsan Management Acquires Fairfield Inn & Suites In Middleboro For $9.25M
4 Chalet Road
See Similar DealsHotel
Sold 11/01/2023
Summary
MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Sale
Ashok Patel's Jamsan Management has acquired the Fairfield Inn & Suites in Middleboro, Massachusetts for a price of $9.25 million. The hotel property, located at 4 Chalet Road, features 100 rooms available for guests. With a price per room of $92,500, this acquisition adds to Jamsan Management's portfolio.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $9,250,000
- Address: 4 Chalet Road - Fairfield Inn & Suites by Marriott Raynham
- Market: Middleboro, MA
- Bedrooms: 100
- Price per Room: $92,500
Jamsan Management, represented by Ashok Patel, successfully closed the deal to purchase the Fairfield Inn & Suites. The seller, James G. Jalet, III of JNR Management, completed the transaction with Jamsan Management for the hotel property in Middleboro, Massachusetts.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$493,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,863.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,849.72
Annual Debt Service$526,196.63
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