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6708 Gessner Road

Unity Lodging LLC Sells 112-Room Courtyard By Marriott Houston NW/290 With Marcus & Millichap
SOLDHotel

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:

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

Allan Miller

Marcus & Millichap

Broker

$162.9M

vol

51 deals

Broker

Houston 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