TPG Hotels & Resorts Acquires Hotel In Chatham, MA From Oceanview Holdings LLC For $8.2M
946 Main Street, Chatham, Massachusetts 02633, United States
$8,200,000
Building Size
—
Asset Type
Hotel
Closing
Jul 21, 2022
AI
Located at 946 Main Street in Chatham, MA, a hotel property has been sold in a recent transaction. The property, which offers charming accommodations in a prime location, was sold for a price of $8,200,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $8,200,000
- Date: 07/22/2022
- Address: 946 Main Street, Chatham, MA
- Market: Chatham, MA
The buyer of the hotel property is TPG Hotels & Resorts, while the seller is Oceanview Holdings LLC. Representing the transaction is Nicholas Herz from Boston Realty Advisors.
This sale marks a significant transaction in the hotel industry, showcasing the value of properties in the Chatham, MA market. With its desirable location and appealing amenities, this hotel presents a promising investment opportunity for the new owner. The involvement of experienced real estate professionals like Nicholas Herz adds to the credibility of this transaction.
Players
Chatham 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
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93