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2600 Summer Lee Drive Rockw...

Updated Nov 4, 2023

Mumford Co. Arranges Sale Of Tru By Hilton Rockwall Dallas Hotel
SOLDHotel

Mumford Co. Arranges Sale Of Tru By Hilton Rockwall Dallas Hotel

2600 Summer Lee Drive Rockwall, Texas 75032, USA

Building Size

Asset Type

Hotel

Closing

Aug 9, 2023

About this deal

AI

The Tru by Hilton Rockwall Dallas hotel, located at 2600 Summer Lee Drive in Rockwall, has been sold. The sale was facilitated by the brokerage firm Mumford Co. The hotel, which was built in 2020, features 98 rooms and is situated in the Rockwall market. The property includes amenities such as a fitness center, business center, and outdoor pool.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: Not disclosed
  • Address: 2600 Summer Lee Drive, Rockwall
  • Market: Rockwall
  • Keys: 98
  • Broker: Mumford Co.

Mumford Co. successfully arranged the sale of the Tru by Hilton Rockwall Dallas hotel to an undisclosed developer based in Alabama. The sale marks a significant transaction in the Rockwall market. The hotel, with its modern facilities and prime location, presents a lucrative investment opportunity for the developer.

Players

Rockwall 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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