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2280 Rees St Breaux Bridge,...

Aman H. Patel Acquires Hotel In Lafayette, LA From Shane Spallino
SOLDHotel

Aman H. Patel Acquires Hotel In Lafayette, LA From Shane Spallino

2280 Rees St Breaux Bridge, LA 70517, USA

Building Size

109,000 SF

Asset Type

Hotel

Closing

Aug 15, 2023

AI

The property involved in this transaction is a hotel located at 2280 Rees Street in Lafayette, LA. The hotel has a total square footage of 109,000. It was sold in a sale transaction.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: Not specified
  • Address: 2280 Rees Street, Lafayette, LA
  • Market: Lafayette, LA
  • Buyer: Aman H. Patel - Patel Capital Groups
  • Seller: Shane Spallino
  • Broker: Andrew Frosch - HVS

The buyer in this transaction is Aman H. Patel, representing Patel Capital Groups. The seller is Shane Spallino. The broker involved in the deal is Andrew Frosch from HVS. According to the note from the buyer, a Motel 6 I Studio 6 Dual Brand is planned to be established in the Lafayette market.

Players

Andrew Frosch

HVS Brokerage & Advisory

Broker

$3.3M

vol

19 deals

Broker
M6
Motel 6Buyer

Breaux Bridge 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93