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.
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