SOLDHotel
Narendra Patel & Shetal Patel Of S3 Hotel Group Acquire Hyatt House Irvine For $38M
2320 Main Street
$38,000,000
Building Size
—
Asset Type
Hotel
Closing
Aug 4, 2026
AI
The transaction involves the acquisition of the Hyatt House Irvine/John Wayne Airport, a 149-room hotel located at 2320 Main Street in Irvine, CA. The sale price for the property was $38,000,000, equating to approximately $255,034 per room. This hotel is situated in a market where California hotel values are adjusting due to increased borrowing, labor, and insurance expenses.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $38,000,000
- Buyer: Narendra Patel & Shetal Patel - S3 Hotel Group
- Seller: Realberry Real Estate Services LLC
- Keys: 149
- PPK: $255,034
Narendra Patel and Shetal Patel, representing S3 Hotel Group, are expanding their footprint in Orange County's extended-stay hotel market with this acquisition. The seller of the property was Realberry Real Estate Services LLC, marking a significant transaction in the specified area.
Players
Saint Maries Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93