Ad Astra Capital Secures $16.25 Million Loan From Intrust Bank For Wichita Hotel Purchase
820 East 2nd Street North
$16,250,000
Units
129
Asset Type
Hotel
Closing
Nov 14, 2025
About this deal
AI
The property asset involved in this transaction is a 129-room hotel located at 820 East 2nd Street North in Wichita, Kansas. The hotel was originally constructed as a warehouse in 1929 and underwent redevelopment in 2006. It was previously owned by Artemis Real Estate Partners. The transaction amounted to $16,250,000, financed by Intrust Bank.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $16,250,000
- Address: 820 East 2nd Street North
- Market: Wichita, KS
- Units: 129
- Lender: Intrust Bank
- Landlord: Ad Astra Capital
Ad Astra Capital secured the financing from Intrust Bank for the purchase of the hotel. The transaction highlights the involvement of key financial institutions and real estate entities, emphasizing the active nature of the Wichita hotel market.
On the Map
$16,250,000
Hotel
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Players
Wichita Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93