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InVest Hotels Acquires Hotel On 5th Avenue In Seattle For $63.3M
SOLD
$63,300,000
Washington
See Similar DealsHotel
Sold 05/10/2023
SOLD
InVest Hotels Acquires Hotel On 5th Avenue In Seattle For $63.3M
1100 5th Avenue Seattle, Washington 98101, Usa
See Similar DealsHotel
Sold 05/10/2023
Summary
WASHINGTON
Asset Type:Hotel
Transaction Type:Sale
The Hotel located at 1100 5th Avenue in Seattle, WA was sold on May 10, 2023. The property was acquired by InVest Hotels from Pebblebrook Hotel Trust for a sale price of $63,300,000. The Hotel comprises 189 keys, with a price per key of $334,921.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $63,300,000
- Address: 1100 5th Avenue, Seattle, WA
- Buyer: InVest Hotels
- Seller: Pebblebrook Hotel Trust
- Keys: 189
- Price Per Key: $334,921
InVest Hotels successfully acquired the hotel property at 1100 5th Avenue in Seattle, WA. The transaction was facilitated by Pebblebrook Hotel Trust, who represented the seller in the deal. This marks a significant milestone for both InVest Hotels and Pebblebrook Hotel Trust in the Seattle market.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,376,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$224,891.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$300,074.29
Annual Debt Service$3,600,891.53
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