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
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.
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