facebook

traded

+ Submit
Home

/

Deals

/

Texas

/

Hotel

/

Sale

/

5879 South Padre Island Drive

American Hotel Income Properties Sells 101-Key Hotel In Corpus Christi Brokered By Hunter Hotel Advisors
SOLDHotel

American Hotel Income Properties Sells 101-Key Hotel In Corpus Christi Brokered By Hunter Hotel Advisors

5879 South Padre Island Drive

Building Size

Asset Type

Hotel

Closing

Dec 23, 2024

AI

A 101-key hotel located at 5879 South Padre Island Drive in Corpus Christi was the subject of this transaction. The asset operates under the Hampton Inn & Suites brand and is situated in the Corpus Christi market.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: Not specified
  • Address: 5879 South Padre Island Drive
  • Market: Corpus Christi
  • Keys: 101
  • Seller: Jonathan Korol - American Hotel Income Properties
  • Broker: Kami Burnette - Hunter Hotel Advisors
  • Broker: Mason McDavid - Hunter Hotel Advisors
  • Transaction Date: December 23, 2024

This transaction was facilitated by Kami Burnette and Mason McDavid, both from Hunter Hotel Advisors. Jonathan Korol represented the seller, American Hotel Income Properties, in the sale of the hotel.

Players

Kami Burnette

Hunter Hotel Advisors

Broker

$57.5M

vol

15 deals

Broker

Corpus Christi 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93