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
$36,000,000
Building Size
—
Asset Type
Hotel
Closing
Dec 4, 2024
AI
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
Southaven 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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93