Certes Partners Acquires Hotel In Nashville For $13.5M
3887 Central Pike
$13,500,000
Building Size
—
Asset Type
Hotel
Closing
Jun 17, 2022
About this deal
AI
The asset involved in this transaction is a hotel located at 3887 Central Pike, Nashville, TN, comprising 108 keys. The transaction was completed with a sale price of $13,500,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $13,500,000
- Buyer: Certes Partners - Sunder Jambunathan & Elan Hakimian, & The Hakimian Organization - Adam Hakimian & Michael Hakimian
- Seller: Jai Ganesha
The buyers, Certes Partners and The Hakimian Organization, are focused on acquiring distressed and underperforming hotels in high-growth markets across the nation. They are engaged in both direct asset acquisitions and providing limited partner and general partner capital. Interested opportunities can be forwarded to [email protected].
Players
Nashville-Davidson 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93