facebook
Traded Co logo
Submit

Gaming And Leisure Properties Acquires Hotel In Tiverton & Lincoln, RI For $1B

Property Image
SOLD
$1,000,000,000

Rhode Island

See Similar Deals
Hotel
Sold 06/28/2022
the dealplayerscompscontact
Property Image
SOLD

Gaming And Leisure Properties Acquires Hotel In Tiverton & Lincoln, RI For $1B

777 Tiverton Casino Boulevard, Tiverton, Rhode Island 02878, United States

See Similar Deals
Hotel
Sold 06/28/2022
the dealplayerscompscontact
Contact now

Summary

RHODE ISLAND
Asset Type:Hotel
Transaction Type:Sale

Gaming and Leisure Properties, Inc has acquired a hotel property located at 777 Tiverton Casino Blvd & 100 Twin River Rd in Tiverton & Lincoln, RI. The transaction was completed on 06/28/2022. The property, with an address in the bustling market of Tiverton & Lincoln, RI, is an asset type classified as a hotel.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $1,000,000,000
  • Buyer: Gaming and Leisure Properties, Inc
  • Seller: Bally’s Corporation - Bobby Lavan

Bobby Lavan, representing Bally’s Corporation, facilitated the sale of the hotel property to Gaming and Leisure Properties, Inc. The transaction had a total sale price of $1,000,000,000. This significant deal highlights the strategic investment made by Gaming and Leisure Properties, Inc in the hotel market.

Players

GI
Gaming and Leisure Properties, Inc
BUYER
BL
Bobby Lavan
2 deals$1.2B volume
SELLER

Details

SOLD
IMAGE: Bobby Lavan DATE: 06/28/2022 ADDRESS: 777 Tiverton Casino Blvd & 100 Twin River Rd MARKET: Tiverton & Lincoln, RI ASSET TYPE: Hotel BUYER: Gaming and Leisure Properties, Inc SELLER: Bally’s Corporation - Bobby Lavan SALE PRICE: $1,000,000,000

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$53,333,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,552,788.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740,510.18
Annual Debt Service$56,886,122.11