BREC Acquires Hotel In Cambridge, MA For $6.05M
SOLD
$6,050,000
+ 1
Massachusetts
See Similar DealsHotel9,710 SF
Sold 08/05/2021
SOLD
BREC Acquires Hotel In Cambridge, MA For $6.05M
6 Prentiss Street, Cambridge, MA, USA
See Similar DealsHotel9,710 SF
Sold 08/05/2021
+ 1
Summary
MASSACHUSETTS
Asset Type:Hotel
Price Per Square Foot:$623
Total Square Footage:9,710 SF
Transaction Type:Sale
An hotel located at 6 Prentiss Street in Cambridge, MA has been sold for $6,050,000. The property was acquired by BREC from the seller, Forsythe Realty Trust. The transaction took place on August 5, 2021. The hotel consists of 20 keys, with a price per key of $302,500.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $6,050,000
- Address: 6 Prentiss Street, Cambridge, MA
- Market: Cambridge, MA
Kevin Benzinger, Jason Weissman, Andrew Herald, and Nick Herz from Realty Advisors represented the seller in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$322,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,494.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,680.09
Annual Debt Service$344,161.04
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