JNR Management Inc Acquires Hotel In Framingham, MA For $15.8M
SOLD
$15,800,000
Massachusetts
See Similar DealsHotel
Sold 09/11/2022
SOLD
JNR Management Inc Acquires Hotel In Framingham, MA For $15.8M
400 Staples Drive, Framingham, Massachusetts 01702, United States
See Similar DealsHotel
Sold 09/11/2022
Summary
MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Sale
The hotel property located at 400 Staples Drive in Framingham, MA has been sold for a transaction amount of $15,800,000. The property, with a total of 125 keys, was acquired by JNR Management Inc from Apex Capital Investments.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $15,800,000
- Date: 11/09/2022
- Address: 400 Staples Drive, Framingham, MA
- Buyer: JNR Management Inc
- Seller: Apex Capital Investments
- Brokers: Alan Suzuki & Matthew Enright - JLL
The deal was facilitated by Alan Suzuki and Matthew Enright from JLL, representing both the buyer, JNR Management Inc, and the seller, Apex Capital Investments.
In this transaction, each key of the hotel was valued at approximately $126,400.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$842,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$56,134.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,900.06
Annual Debt Service$898,800.73
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