Baron Hospitality Acquires Hotel In North Charleston For $13.3M
2415 Mall Drive
$13,300,000
Building Size
—
Asset Type
Hotel
Closing
Jun 10, 2024
AI
The Courtyard North Charleston, a 123-room hotel located at 2415 Mall Drive in North Charleston, South Carolina, was recently sold for $13.3 million. This hotel, built in 1999, is strategically positioned near key attractions such as the Charleston International Airport and Tanger Outlets Charleston.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $13,300,000
- Address: 2415 Mall Drive
- Market: North Charleston, SC
- Buyer: Baron Hospitality
- Brokers: Chase Dewese, Jack Davis & Joce Messinger - Marcus & Millichap
- Keys: 123 ~ PPK: $108,130
Marcus & Millichap played a pivotal role in facilitating the sale of the Courtyard North Charleston to Baron Hospitality. The brokers involved in this transaction were Chase Dewese, Jack Davis, and Joce Messinger from Marcus & Millichap.
Players
North Charleston 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
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93