Updated Oct 28, 2024
Apple Hospitality REIT Acquires Hotel In Pittsburgh For $34M
1126 Smallman St, Pittsburgh, Pennsylvania 15222, United States
$34,000,000
Units
134
Asset Type
Hotel
Closing
Oct 30, 2022
About this deal
AI
A hotel located at 1126 Smallman St in Pittsburgh, Pennsylvania has been sold for $34,000,000. The property, consisting of 134 units, was purchased by Apple Hospitality REIT, represented by Nelson Knight. The sale took place on October 31, 2022.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $34,000,000
- Address: 1126 Smallman St, Pittsburgh, Pennsylvania
- Market: Pittsburgh, Pennsylvania
- Buyer: Apple Hospitality REIT - Nelson Knight
- Units: 134
- Price Per Unit: $253,731
Nelson Knight, representing Apple Hospitality REIT, played a key role in the purchase of the hotel located at 1126 Smallman St in Pittsburgh, Pennsylvania. The deal, which closed on October 31, 2022, involved a transaction amount of $34,000,000. The property consists of 134 units, with a price per unit of $253,731.
Pittsburgh Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Deal FAQ
Visit Nelson Knight to view all their deals.
Browse Pennsylvania hotel sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93