Updated Oct 14, 2026
Jagesh Patel, Mayank Patel & Mihir Patel Of Saffron Hotels Acquire Package Deal For $20.25M In Clovis
835 Gettysburg Avenue & 855 Gettysburg Avenue
$20,000,000
$78/SF
Building Size
128,249 SF
Asset Type
Package Deal
Closing
Nov 5, 2025
About this deal
AI
A package deal involving two properties located at 835 Gettysburg Avenue and 855 Gettysburg Avenue in the Clovis market has been finalized. The transaction occurred for a sale price of $20,250,000, encompassing a total of 128,249 square feet. The deal includes 169 keys with a price per key of $119,883 and a price per square foot of $158.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $20,250,000
- Address: 835 Gettysburg Avenue & 855 Gettysburg Avenue
- Market: Clovis
- Square Footage: 128,249
- Number of Keys: 169
- Price Per Key: $119,883
- Price Per Square Foot: $158
The buyer group consists of Jagesh Patel, Mayank Patel, and Mihir Patel, representing Saffron Hotels. The broker facilitating this transaction is Melvin Chu from JLL.
On the Map
$20,000,000
$78/SF
Package Deal
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Players
Clovis Package Deal Market Snapshot
Boundary boundary · Package Deal · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93