Deutsche Bank Mexico, Banking institution, Trust Division F/1616 or Fibra Inn, a Mexican real estate investment trust specializing in the hotel industry, purchased the Hampton Inn by Hilton Hermosillo hotel in the State of Sonora.
The acquisition price of the hotel was $11.6 million. An additional $1.8 million will be destined for a 56-room expansion, and $800,000 for taxes and acquisition-related expenses, for a total investment of $14.2 million. Fibra Inn’s internal management approved the acquisition with a projected stabilized cap rate equal to 10.2 percent. The payment will be made using funds from the CBFI issuance carried out during November 2014.
The hotel currently has 51 rooms and is in the select-service segment. The hotel operation will be executed by Fibra Inn. The cumulative operating indicators for the hotel are in process of stabilization as this property initiated operations six months ago.