Updated Oct 28, 2024
Condor Hospitality Trust Sells Hotel Portfolio Across Multiple Markets For $305M
$305,000,000
Building Size
—
Asset Type
Single Family Residence
Closing
Nov 30, 2021
About this deal
AI
The Condor Hospitality Portfolio, consisting of hotels located in Austin, San Antonio, El Paso, TX, Lake Mary, Jacksonville, Tallahassee, FL, Atlanta GA, Summerville, SC, Lexington, KY, Southaven, MS, Leawood, KS, and Dowell, MD, has been sold for a total price of $305,000,000. The asset type of the properties included in the portfolio is hotel.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $305,000,000
The seller of the Condor Hospitality Portfolio is Condor Hospitality Trust. The brokers involved in the transaction are Daniel C. Peek, Clint Hodges, John Bourret, Austin Brooks, Mike Tormey, and Carolina Bernal from Hodges Ward Elliott.
Players
Market Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93