Banks Rock LLC Acquires Four Points By Sheraton Greensboro Airport Hotel In Greensboro For $11.75M
$11,750,000
Building Size
—
Asset Type
Hotel
Closing
Jan 23, 2024
AI
Cushman & Wakefield has facilitated the $11.75 million sale of Four Points by Sheraton Greensboro Airport, a 112-room hotel located at 7619 Thorndike Road in Greensboro, NC. The hotel was sold by Jai Amba Maa (JAM) Hospitality GSO Airport LLC to Banks Rock LLC. This transaction took place on January 23, 2024.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $11,750,000
- Address: 7619 Thorndike Road
- Market: Greensboro, NC
The sale was facilitated by Christopher Passeggiata, David Greenberg, Gabriel Shamay, and Rick Redmond of Cushman & Wakefield. They represented Banks Rock LLC as their brokers in this deal.
It is worth noting that the Four Points by Sheraton Greensboro Airport hotel consists of 112 rooms and has a price per key (PPK) of $104,911.
Players
Market 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
1.35%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93