Rushang Patel Purchases Hotel In Wharton From Vikas Desai With Brokers Eric Guerrero And James Rebullida
10247 US Route 59
Building Size
81,502 SF
Asset Type
Hotel
Closing
Nov 15, 2024
About this deal
AI
The property asset involved in this transaction is a hotel located at 10247 US Route 59 in the Wharton market. The hotel encompasses a total square footage of 81,502. The sale occurred on November 15, 2024.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Buyer: Rushang Patel
- Seller: Vikas Desai
- Brokers: Eric Guerrero & James Rebullida
- Brokerage: HVS Brokerage & Advisory
This transaction involved the representation of both the buyer and the seller. Eric Guerrero and James Rebullida acted as the brokers for the deal, representing the interests of the buyer, Rushang Patel, and the seller, Vikas Desai.
On the Map
Hotel
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Wharton 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