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605 Davis Street, Austin, T...

Hodges Ward Elliot Represents Sale Of 319-Key Hotel On 605 Davis Street In Austin
SOLDHotel

Hodges Ward Elliot Represents Sale Of 319-Key Hotel On 605 Davis Street In Austin

605 Davis Street, Austin, Texas 78701, United States

Building Size

Asset Type

Hotel

Closing

Feb 22, 2022

AI

A hotel in Austin, located at 605 Davis Street, has been sold in a recent transaction. The sale of this property was facilitated by the brokers Daniel Peek, John Bourret, Austin Brooks, and David Auer from Hodges Ward Elliot. The hotel, consisting of 319 keys, was sold on 02/23/2022.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: Not specified
  • Address: 605 Davis Street
  • Market: Austin
  • Number of Keys: 319

The sale of this hotel involved the following brokers representing the respective parties: Daniel Peek, John Bourret, Austin Brooks, and David Auer from Hodges Ward Elliot. With their expertise, the transaction was successfully completed.

Players

John Bourret

Hodges Ward Elliott

Broker

$305M

vol

6 deals

Broker

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