Host Hotels & Resorts Inc. Acquires Houston Hotel On Dallas St For $65M - James F Risoleo
SOLD
$65,000,000
Texas
See Similar DealsHotel190,000 SF
Sold 08/11/2020
SOLD
Host Hotels & Resorts Inc. Acquires Houston Hotel On Dallas St For $65M - James F Risoleo
1070 West Dallas Street, Houston, TX, USA
See Similar DealsHotel190,000 SF
Sold 08/11/2020
Summary
TEXAS
Asset Type:Hotel
Price Per Square Foot:$342
Total Square Footage:190,000 SF
Transaction Type:Sale
Host Hotels & Resorts Inc., represented by James F Risoleo, has acquired a hotel property located at 1070 Dallas St in Houston. This transaction took place on 08/11/2021.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $65,000,000
- Address: 1070 Dallas St, Houston
- Market: Houston
The hotel property was sold for a total price of $65,000,000. It comprises a total of 223 keys, resulting in a price per key of $291,480.
James F Risoleo, from Host Hotels & Resorts Inc., played a key role as the buyer's representative in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$230,931.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$308,133.16
Annual Debt Service$3,697,597.94
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