Timberline Real Estate Acquires Hotel In Austin For $17.1M
400 Josephine Street, Austin, Texas 78704, United States
$17,100,000
Building Size
—
Asset Type
Hotel
Closing
Mar 13, 2022
AI
Timberline Real Estate Partners has acquired a hotel property located at 400 Josephine Street in Austin. The transaction, which closed on March 14, 2022, involved the purchase of the property from CTO Realty Growth, Inc., represented by John P. Albright & Matthew Partridge. The sale price for the hotel was $17,100,000, with a capitalization rate of 5.66%.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $17,100,000
- Address: 400 Josephine Street, Austin
- Market: Austin
The seller, CTO Realty Growth, Inc., was represented by John P. Albright & Matthew Partridge in the transaction. Timberline Real Estate Partners acted as the buyer in this deal.
Austin Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93