PWZ Capital Group Acquires 74-Key SpringHill Suites Galveston Island Hotel From Omkar Group Galveston
6303 Broadway St, Galveston, TX 77551, United States
Building Size
—
Asset Type
Hotel
Closing
Jun 13, 2023
About this deal
AI
The SpringHill Suites Galveston Island, located at 6303 Broadway Street, has been sold in a transaction arranged by HVS Brokerage & Advisory. The hotel, built in 2008, consists of 74 keys and is conveniently situated near refineries and popular attractions in Galveston.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 6303 Broadway Street
- Market: Galveston
- Keys: 74
PWZ Capital Group has acquired the SpringHill Suites Galveston Island from Omkar Group Galveston. Eric Guerrero, James Rebullida, Fadi Rawashdeh, and Kyle Peterek from HVS Brokerage & Advisory represented the involved parties in the deal.
Players
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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