SOLDHotel
Driftwood Capital Acquires Hotel Property In Southlake From Seller Hobbs & Curry Family Limited Partnership
1400 Plaza Place, Southlake, TX, USA
Building Size
20,000 SF
Asset Type
Hotel
Closing
Dec 21, 2020
About this deal
AI
The hotel located at 1400 Plaza Place in Southlake has been sold. The transaction took place on December 22, 2020. The property, with 248 keys, was sold by Hobbs & Curry Family Limited Partnership.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 1400 Plaza Place
- Market: Southlake
- Seller: Hobbs & Curry Family Limited Partnership
- Buyer: Driftwood Capital - Carlos Rodriguez Sr
The buyer of the hotel is Carlos Rodriguez Sr, representing Driftwood Capital. The transaction details, such as the price and loan amount, are not specified.
Players
Southlake 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