New Castle Hotels & Resorts Acquires 55-Key Hotel In Bryan From L3 Hospitality
120 South Main Street, Bryan, Texas 77803, United States
Building Size
—
Asset Type
Hotel
Closing
Sep 15, 2022
About this deal
AI
On September 16, 2022, a hotel located at 120 S. Main St. in Bryan was sold in a transaction. The hotel, consisting of 55 keys, was acquired by New Castle Hotels & Resorts, represented by Julian Buffam & Jeremy Buffam. The seller of the property was L3 Hospitality.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 120 S. Main St.
- Market: Bryan
- Number of Keys: 55
The deal involved New Castle Hotels & Resorts, represented by Julian Buffam & Jeremy Buffam, as the buyer. On the other side of the transaction, L3 Hospitality acted as the seller.
Players
Bryan 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