Rajesh Patel, Nitu Barot & Ohm Patel Acquire Green Tree Inn Hotel In Victorville For $13M

The Green Tree Inn, located at 14173 Green Tree Boulevard in Victorville, has been sold in a recent transaction. The property, spanning 10 acres, is a hotel equipped with banquet facilities and a closed café. The sale price for this 200-room hotel was $13,000,000, and the purchase was financed with $11.3 million from Celtic Bank Corp. The hotel has a total square footage of 116,749, with a price per square foot of $111.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $13,000,000
• Address: 14173 Green Tree Boulevard - Green Tree Inn
• Market: Victorville
• Acreage: 10

An entity comprising Rajesh Patel, Nitu Barot, and Ohm Patel acted as the buyers in this sale. On the selling side, Phillio Elghanian facilitated the transaction. Furthermore, Celtic Bank Corp provided financing for this deal, demonstrating their involvement in the property's acquisition. It is worth noting that the hotel's sale included 200 keys, with a price per key of $65,000.