Updated Oct 28, 2024
Khanna Enterprises Acquires Hotel In San Jose From Aju Hotels & Resorts For $45M
302 South Market Street, San Jose, California 95113, United States
$45,000,000
$364/SF
Building Size
123,505 SF
Asset Type
Retail
Closing
Jan 23, 2022
About this deal
AI
Khanna Enterprises, led by Ravi Khanna, has acquired a hotel property located at 302 S. Market Street in San Jose. The sale, facilitated by Aju Hotels & Resorts, was completed on January 24, 2022, for a price of $45,000,000. The hotel consists of 171 keys, with a per key price of approximately $263,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $45,000,000
- Address: 302 S. Market Street, San Jose
- Seller: Aju Hotels & Resorts
- Buyer: Khanna Enterprises - Ravi Khanna
- Keys: 171
- Per Key Price: $263,000
Ravi Khanna, representing Khanna Enterprises, played a crucial role in the acquisition of the hotel property. Aju Hotels & Resorts acted as the seller in this transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93