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6505 North Interstate 35, A...

Mohr Capital Acquires DoubleTree By Hilton Austin In Central Austin
SOLDHotel

Mohr Capital Acquires DoubleTree By Hilton Austin In Central Austin

6505 North Interstate 35, Austin, Texas 78752, United States

Building Size

Asset Type

Hotel

Closing

May 17, 2022

AI

The property involved in this transaction is the 350-room DoubleTree by Hilton Austin, located at 6505 N. Interstate 35 in Austin, Texas. The hotel features a six-story structure with almost 25,000 square feet of meeting space, including a ballroom. The property is positioned near the intersection of Interstate 35 and U.S. Highway 290 in Central Austin, and Mohr Capital plans to invest $11 million to upgrade various aspects of the hotel including the ballroom, guest rooms, elevators, and common spaces.

Summary of transaction details:

Mohr Capital is a Dallas-based privately held real estate investment firm that completed this acquisition as its first hospitality investment. The firm has engaged HEI Hotels & Resorts to manage the hotel on its behalf.

Players

John Bourret

Hodges Ward Elliott

Broker

$305M

vol

6 deals

Broker
Rodrigo Godoi

Rodrigo Godoi

Mohr Capital

Buyer

4 deals

Buyer

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