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39642 Jefferson Bridge Rd, ...

Updated Oct 29, 2024

EOS Acquisitions Purchases Hotel In Bethany For Sale By Bethany Beach Ocean Inn
SOLDHotel

EOS Acquisitions Purchases Hotel In Bethany For Sale By Bethany Beach Ocean Inn

39642 Jefferson Bridge Rd, Bethany B...

Building Size

—

Asset Type

Hotel

Closing

Nov 20, 2023

About this deal

AI

The 112-room Bethany Beach Ocean Suites Residence Inn and the 100-room Holiday Inn Express in Bethany Beach, DE have been sold. The Bethany Beach Ocean Suites is affiliated with Residence Inn by Marriott and offers resort-like suites, a spa, and meeting rooms. The Holiday Inn Express Bethany Beach is situated two blocks from the beachfront and features a flexible conference space and a business center.

Summary of transation details:

  • Property Type: Hotel
  • Transaction Amount: Not disclosed
  • Address: 39642 Jefferson Bridge Rd, Bethany Beach, DE
  • Market: Bethany
  • Seller's Reps: Marc Magazine(Savills), Tom Baker(Savills)
  • Buyer: EOS Acquisitions
  • Seller: Bethany Beach Ocean Inn, LLC

Marc Magazine and Tom Baker from Savills’ Washington D.C. office represented the sellers, Bethany Boardwalk Group LLC and Bethany Beach Ocean Inn, LLC, in the transaction. EOS Acquisitions was the buyer in the deal.

On the Map

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Players

Marc Magazine

Savills

Broker

$116M

vol

5 deals

Broker

Bethany 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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