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
Corpus Christi 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