Seawall Hospitality LLC Acquires Hotel In Galveston
2024 Seawall Blvd, Galveston, TX 77550, USA
Building Size
202,929 SF
Asset Type
Hotel
Closing
Apr 15, 2021
About this deal
AI
Seawall Hospitality LLC, represented by Mark Wyant, has recently acquired a hotel located at 2024 Seawall Blvd in Galveston. The property offers a total of 226 rooms, making it a significant addition to the buyer's hospitality portfolio.
Summary of transaction details
- Property type: Hotel
- Transaction amount: Not specified
- Address: 2024 Seawall Blvd, Galveston
- Market: Galveston
- Buyer: Seawall Hospitality LLC - Mark Wyant
Mark Wyant, representing Seawall Hospitality LLC, successfully closed the deal for the hotel on 04/16/2021. The acquisition of this property strengthens their presence in the Galveston market and demonstrates their commitment to expanding their hospitality offerings.
Players
Galveston 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