DiamondRock Hospitality Acquires Hotel In Austin For $75.6M With Mark Brugger As Buyer's Rep
1705 South Quinlan Park Road, Austin, Texas 78732, United States
$75,600,000
Building Size
—
Asset Type
Hotel
Closing
Sep 12, 2022
AI
The property involved in the transaction is a hotel located at 1705 S Quinlan Park Road in Austin. The hotel sits on 12 acres of land. The sale took place on 12/09/2022.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $75,600,000
- Address: 1705 S Quinlan Park Road
- Market: Austin
- Acres: 12
The buyer of the hotel is DiamondRock Hospitality, represented by Mark Brugger. The seller of the property is Michael McAdams and William Rucks. The sale price for the hotel was $75,600,000. The hotel has 40 keys, and the price per key was $1,890,000.
Players
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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93