Axton Group Acquires Hotel On Arboretum Boulevard In Austin For $70M
9721 Arboretum Boulevard, Austin, TX, USA
$70,000,000
$165/SF
Building Size
424,301 SF
Asset Type
Hotel
Closing
Nov 24, 2020
About this deal
AI
The Hotel located at 9721 Arboretum Boulevard in Austin has been sold for a price of $70,000,000. The transaction took place on November 25, 2020. The property consists of 492 keys and the price per key was $142. The buyer of the hotel is the Axton Group, represented by Peter Oberndorf.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $70,000,000
- Address: 9721 Arboretum Boulevard, Austin
- Keys: 492
- Price per Key: $142
Peter Oberndorf, representing the Axton Group, played a key role as the buyer in this hotel transaction. His expertise in the industry was instrumental in closing the deal successfully.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93