HMP Hotels Acquires Hotel In Fredericksburg, Virginia For $10.3M
1241 Jefferson Davis Highway, Fredericksburg, VA 22401, USA
$10,300,000
$731/SF
Building Size
14,088 SF
Asset Type
Hotel
Closing
Oct 14, 2021
AI
Located at 1241 Jefferson Davis Hwy in Fredericksburg, Virginia, the recently sold property is a hotel. The transaction took place on October 14, 2021.
Summary of transaction details
- Property Type: Hotel
- Sale Price: $10,300,000
- Address: 1241 Jefferson Davis Hwy, Fredericksburg, Virginia
- Market: Fredericksburg, Virginia
- Buyer: HMP Hotels - Hitesh Patel
- Seller: Eagle Hospitality
- Brokers: Kyle Stevenson & Dan Hawkins - Berkadia Hotels & Hospitality
The buyer of the hotel, Hitesh Patel, represented HMP Hotels in the transaction. The seller was Eagle Hospitality. Kyle Stevenson and Dan Hawkins from Berkadia Hotels & Hospitality acted as the brokers in the deal.
Players
Fredericksburg 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
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93