NewcrestImage & Hospitality Capital Partners Acquires Hotel Portfolio In United States For $137.3M
SOLD
$137,300,000
Texas
See Similar DealsHotel
Sold 03/27/2023
SOLD
NewcrestImage & Hospitality Capital Partners Acquires Hotel Portfolio In United States For $137.3M
Texas, United States
See Similar DealsHotel
Sold 03/27/2023
Summary
TEXAS
Asset Type:Hotel
Transaction Type:Sale
The Hotel Portfolio located in the United States has been sold for a total price of $137,300,000. The property consists of 2,155 keys, resulting in a price per key of $63,712. The sale was successfully completed on March 27, 2023. The transaction involved the buyer, NewcrestImage & Hospitality Capital Partners, and the seller, Service Properties Trust. The sale was facilitated by brokers Al Calhoun & Mark Fair from CBRE.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $137,300,000
- Address: Hotel Portfolio
- Market: United States
- Keys: 2,155
- Price per Key: $63,712
The buyer, NewcrestImage & Hospitality Capital Partners, and the seller, Service Properties Trust, successfully closed the deal for the Hotel Portfolio. The transaction was facilitated by brokers Al Calhoun & Mark Fair from CBRE.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,322,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$487,797.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$650,872.05
Annual Debt Service$7,810,464.57
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