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2701 South 4th Street

Aman H. Patel's Patel Capital Groups LLC Acquires Hotel In Oklahoma City
SOLDHotel

Aman H. Patel's Patel Capital Groups LLC Acquires Hotel In Oklahoma City

2701 South 4th Street

Building Size

162,914 SF

Asset Type

Hotel

Closing

Jan 1, 2024

AI

An asset at 2701 South 4th Street in Oklahoma City was recently sold. The property is a hotel with a total square footage of 162,914 and consists of 120 units. The transaction took place on the date of 01/01/2024.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: Not specified
  • Address: 2701 South 4th Street
  • Market: Oklahoma City
  • Square Footage: 162,914
  • Units: 120

The buyer of the property is Aman H. Patel, representing Patel Capital Groups LLC. The seller is Jay Patel.

According to the buyer's note, the property is a value add conversion project that was previously operated as a Motel 6 I Studio 6 Dual Brand.

Players

M6
Motel 6Buyer

Chickasha 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