BitNile Holdings Acquires Hotel Portfolio In Middleton, WI & Rockford, IL For $69M
1801 Deming Way, Middleton, Wisconsin 53562, United States
$69,000,000
Building Size
—
Asset Type
Hotel
Closing
Dec 29, 2021
About this deal
AI
BitNile Holdings, in partnership with Ault Alliance represented by Christopher Wu, has acquired a portfolio of hotels located at 1801 Deming Way, 2266 Deming Way, 8400 Market St, and 7675 Walton St. The properties are situated in Middleton, WI and Rockford, IL.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $69,000,000
- Buyer: BitNile Holdings; Ault Alliance - Christopher Wu
- Seller: North Central Group - Jeff Lenz
- Keys: 526
- Price Per Key: $131,179
- Date: 12/29/2021
Jeff Lenz represented the seller, North Central Group, while Christopher Wu acted as the buyer's representative for BitNile Holdings and Ault Alliance in this hotel portfolio transaction.
On the Map
$69,000,000
Hotel
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Players
Middleton Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93