Noble Investment Group Acquires Hotel In Raleigh, NC For $28.6M
SOLD
$28,600,000
North Carolina
See Similar DealsHotel
Sold 09/30/2022
SOLD
Noble Investment Group Acquires Hotel In Raleigh, NC For $28.6M
160 Park at North Hills Street, Raleigh, North Carolina 27609, United States
See Similar DealsHotel
Sold 09/30/2022
Summary
NORTH CAROLINA
Asset Type:Hotel
Transaction Type:Sale
The hotel located at 160 Park at North Hills St in Raleigh, NC has been sold in a recent transaction. The property encompasses 137 keys and was sold for a total price of $28,600,000, resulting in a price per key of $208,759.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $28,600,000
- Property Address: 160 Park at North Hills St, Raleigh, NC
- Market: Raleigh, NC
The buyer of the hotel is Noble Investment Group, an experienced investment company in the real estate industry.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,525,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$101,609.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$135,578.59
Annual Debt Service$1,626,943.09
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