Pebblebrook Hotel Trust has closed on the sale of its Hotel Colonnade Coral Gables property for $63 million.
The 157-room hotel is part of the Autograph Collection and is located in Coral Gables, FL.
The hotel's net operating income was $4.1 million for the calendar year 2022, and its EBITDA was $4.8 million. Based on the hotel's operating performance for 2019, the $63 million sales price reflects a 15.4x EBITDA multiple and a 5.5% net operating income cap rate.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
