Private Investor Acquires Property Represented By Allan Miller And Chris Gomes Of Marcus & Millichap In Dallas
2930 Forest Ln, Dallas, TX, 75234
Building Size
—
Asset Type
Hotel
Closing
Sep 25, 2019
About this deal
AI
A 146-room hotel, Courtyard by Marriott Dallas Northwest, was sold located at 2930 Forest Lane, Dallas, TX, 75234. The transaction occurred in the Dallas market. The seller is a limited liability company, and the buyer is a private investor. The square footage of the property was not disclosed.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Address: 2930 Forest Ln, Dallas, TX, 75234
- Market: Dallas
- Seller's Representatives: Allan Miller, Marcus & Millichap; Christopher (Chris) Gomes, Marcus & Millichap
- Buyer: Private Investor
Chris Gomes and Allan Miller of Marcus & Millichap represented the seller in the transaction and procured the buyer. Both parties involved in the deal opted for anonymity regarding their identities.
Players
Dallas 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