McWhinney Real Estate Services Inc. Acquires Hotel In Austin For $UnknownM From Seller Kor Real Estate Partners
600 West 2nd Street, Austin, TX, USA
Building Size
5,506 SF
Asset Type
Hotel
Closing
Sep 29, 2021
AI
A hotel located at 600 West Second St in Austin has been sold in a recent transaction. The property features 244 keys and was sold on September 29, 2021. The buyers, McWhinney Real Estate Services Inc., represented by Chad McWhinney, acquired the hotel from the sellers, Kor Real Estate Partners, represented by Brad Korzen.
Summary of transaction details:
- Property Type: Hotel
- Transaction Date: 09/29/2021
- Address: 600 West Second St, Austin
- Market: Austin
- Keys: 244
The buyers in this transaction were McWhinney Real Estate Services Inc., with Chad McWhinney representing them. On the selling side, Kor Real Estate Partners sold the property, with Brad Korzen as their representative.
Players
Austin 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