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Woodvale Opportunity Fund I Acquires Hotel Portfolio From Chartwell Hospitality For $36M In Southaven And Buford

Property Image
SOLD
$36,000,000
Robert (Bobby) Norwood
C.J. Kelly

Mississippi

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Hotel
Sold 12/04/2024
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Property Image
SOLD

Woodvale Opportunity Fund I Acquires Hotel Portfolio From Chartwell Hospitality For $36M In Southaven And Buford

7225 Sleepy Hollow Drive, 7165 Sleepy Hollow Drive & 1355 Mall of Georgia Boulevard

See Similar Deals
Hotel
Sold 12/04/2024
Robert (Bobby) Norwood
C.J. Kelly
the dealplayerscompscontact
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Summary

MISSISSIPPI
Asset Type:Hotel
Transaction Type:Sale

The transaction involved the sale of a hotel portfolio located at 7225 Sleepy Hollow Drive and 7165 Sleepy Hollow Drive in Southaven, MS, along with a hotel at 1355 Mall of Georgia Boulevard in Buford, GA. The total sale price for the properties was $36,000,000.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $36,000,000
  • Buyer: Woodvale Opportunity Fund I
  • Seller: Chartwell Hospitality
  • Market: Southaven, MS & Buford, GA
  • Brokers: C.J. Kelly & Robert Norwood - JLL

The brokers JLL facilitated the transactions, including a $25 million sale of a Southaven hotel portfolio and an $11 million sale of a Buford hotel to the buyer Woodvale Opportunity Fund I, represented by C.J. Kelly and Robert Norwood.

Players

Robert (Bobby) Norwood
JLL
Robert Norwood
11 deals$958M volume(404) 460-1652
BROKER
C.J. Kelly
JLL
C.J. Kelly
4 deals$125M volume(404) 790-6696
BROKER

Details

SOLD
IMAGE: 12/04/2024 ADDRESS: 7225 Sleepy Hollow Drive, 7165 Sleepy Hollow Drive & 1355 Mall of Georgia Boulevard MARKET: Southaven, MS & Buford, GA ASSET TYPE: Hotel BUYER: Woodvale Opportunity Fund I SELLER: Chartwell Hospitality BROKERS: C.J. Kelly & Robert Norwood - JLL SALE PRICE: $36,000,000 NOTE: JLL brokered the $25M sale of a Southaven hotel portfolio and the $11M sale of a Buford hotel to Woodvale Opportunity Fund I, represented by C.J. Kelly and Bobby Norwood.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,920,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40