NewcrestImage Acquires Marriott Hotel In Houston
1020 Lake Front Circle, Spring, Texas 77380, United States
Building Size
—
Asset Type
Hotel
Closing
Sep 7, 2022
About this deal
AI
NewcrestImage has acquired a Marriott hotel located at 1020 Lake Front Cir in Houston. The hotel is part of a national portfolio of 45 hotels, totaling approximately 3,300 rooms, that NewcrestImage has acquired. The properties are spread across 11 states.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: Not mentioned
In this deal, NewcrestImage, a prominent player in the hospitality industry, has expanded its portfolio with the acquisition of the Marriott hotel in Houston. The acquisition of this hotel is part of NewcrestImage's larger strategy to grow its presence in the hotel industry across the United States.
On the Map
Hotel
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Players
Spring Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
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