Chatham Lodging Trust Acquires Hotel Portfolio In Burlington, Houston, And Dallas For $80M
SOLD
$80,000,000
Massachusetts
See Similar DealsHotel
Sold 05/16/2022
SOLD
Chatham Lodging Trust Acquires Hotel Portfolio In Burlington, Houston, And Dallas For $80M
5 Wheeler Road, Burlington, Massachusetts 01803, United States
See Similar DealsHotel
Sold 05/16/2022
Summary
MASSACHUSETTS
Asset Type:Hotel
Transaction Type:Sale
A hotel property located at 5 Wheeler Rd, 2929 Westpark Dr, 2939 Westpark Dr, and 2747 N Stemmons Fwy has been sold in a recent transaction. The property is situated in Burlington, MA, Houston, and Dallas. The sale of this hotel was facilitated by Jeffrey H. Fisher.
Summary of transaction details:
- Property Type: Hotel
- Sale Price: $80,000,000
- Keys: 537
- Price per Key: $148,976
Chatham Lodging Trust, represented by Jeffrey H. Fisher, acted as the buyer in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$284,223.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$379,240.81
Annual Debt Service$4,550,889.77
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