Chatham Lodging Trust Acquires Austin Hotel From Texas Western Hospitality For $71.2M
11301 Burnet Road, Austin, TX, USA
$71,200,000
Building Size
—
Asset Type
Hotel
Closing
Aug 4, 2020
About this deal
AI
A hotel located at 11301 Burnet Road and 2237 W Braker Ln in Austin has been sold for a price of $71,200,000. Texas Western Hospitality was the seller in this transaction, while the buyer was Chatham Lodging Trust, represented by Jeffrey Fisher. The hotel consists of 269 keys, with a price per key of $264,684.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $71,200,000
- Address: 11301 Burnet Road & 2237 W Braker Ln, Austin
- Market: Austin
- Seller: Texas Western Hospitality
- Buyer: Chatham Lodging Trust - Jeffrey Fisher
- Keys: 269
- Price Per Key: $264,684
Gene Carter, Michael H. Mahoney, and Jeffrey Fisher were involved in the sale of this hotel property.
Austin 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93