Commercial Real Estate Direct Staff Report DiamondRock Hospitality Co. has paid $108.6 million for two hotels with a combined 257 rooms in Florida and Louisiana. The Bethesda, Md., REIT bought the 220-room Bourbon Orleans for $81.1 million, or $368,636/room, from ...
The buyer financed the purchase by assuming a $37.5 million loan provided by Western-Southern Life Assurance Co. that carries an interest rate of 4.65 percent and matures in 2023.
90 percent leased.
70 percent leased
Complex consists of 30 fully occupied retail bays and the Sandestin Beach and Golf Resort's sales and check-in facility.