Ronald Browning And Paul Alflen Acquire Hotel From Gary Melius For $72 Million In Huntington
135 West Gate Drive
$72,000,000
Building Size
—
Asset Type
Hotel
Closing
Oct 27, 2026
About this deal
AI
The asset involved in the transaction is a hotel located at 135 West Gate Drive in Huntington. The property was sold for $72,000,000. It was previously appraised at $137 million, indicating a significant sale price reduction.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $72,000,000
- Buyer: Ronald Browning & Paul Alflen
- Seller: Gary Melius
- Broker: Adam Modlin - Modlin Group
The hotel was purchased by Ronald Browning and Paul Alflen, who are partners at Gold Coast Property & Estate Management. The sale took place on October 27, 2026, through a private auction.
On the Map
$72,000,000
Hotel
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Westgate Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93