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Ignite Hotel Acquires Bellevue, WA Hotel For $28M
SOLD
$28,000,000
Washington
See Similar DealsHotel101,000 SF
Sold 05/15/2023
SOLD
Ignite Hotel Acquires Bellevue, WA Hotel For $28M
14632 Southeast Eastgate Way Bellevue, Washington 98007, USA
See Similar DealsHotel101,000 SF
Sold 05/15/2023
Summary
WASHINGTON
Asset Type:Hotel
Price Per Square Foot:$277
Total Square Footage:101,000 SF
Transaction Type:Sale
The hotel located at 14632 Southeast Eastgate Way in Bellevue, WA was recently sold for a total of $28,000,000. This sale took place on May 15, 2023, and the property has a total square footage of 101,000. The price per square foot for this transaction was $277.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $28,000,000
- Address: 14632 Southeast Eastgate Way
- Market: Bellevue, WA
- Square Footage: 101,000
- Price Per Square Foot: $277
The buyer of this property was Ignite Hotel.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,493,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42
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