Subject Property and Comparables
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Joint venture to purchase hotel in Phoenix AZ. Need $900K for 4 year triple net lease on 130+ room hotel. Have contract with city to rent for $250K per month (operating cost $75/month) with possibility to renew for 6 additional months. Presently operating another hotel in Phoenix that has been at 90%+ occupancy for the last 8 months. Purchase price is $8M with lease amount applying to this.
Steven Carmen (719)375-5926