SOLDHotel
CoralTree Hospitality Acquires Hotel Portfolio In Houston, Denver, Omaha, And St. Louis From Stout Street Hospitality
1100 Texas Avenue, Houston, TX, USA
Building Size
—
Asset Type
Hotel
Closing
Sep 12, 2021
About this deal
AI
The sale transaction involved multiple hotel properties located at 1100 Texas Ave, 818 17th St, 1615 Howard St, and 421 N 8th St. The properties were situated in Houston, TX, Denver, CO, Omaha, NE, and St. Louis, MO respectively. The sale took place on 09/12/2021.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: Not specified
- Keys: 938
- Buyer: CoralTree Hospitality - Tom Luersen
- Seller: Stout Street Hospitality - Sarah Treadway
CoralTree Hospitality, represented by Tom Luersen, acquired the hotel properties from Stout Street Hospitality, represented by Sarah Treadway.
Players
Houston 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