Unity Lodging LLC Sells 112-Room Courtyard By Marriott Houston NW/290 With Marcus & Millichap
6708 Gessner Road
Building Size
—
Asset Type
Hotel
Closing
Dec 17, 2024
AI
The sale involved the 112-room Courtyard by Marriott Houston NW/290, located at 6708 Gessner Road, Houston. The hotel features amenities such as a pool, fitness center, and 1,920 square feet of event space. The asset was developed in 2014.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 6708 Gessner Road - Marriott Houston NW/290
- Market: Houston
- Seller: Unity Lodging LLC
- Brokers: Allan Miller, Christopher Gomes & Skyler Cooper - Marcus & Millichap
- Mortgage Brokers: Jake Marshall & Pete Fehlman - Marcus & Millichap
Skyler Cooper, Allan Miller, and Christopher Gomes represented Unity Lodging LLC in the transaction, successfully securing the buyer for the hotel. Additionally, Jake Marshall and Pete Fehlman were responsible for arranging acquisition financing for the deal.
Players
Houston Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
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