Kalpesh Chaudhari Acquires Hotel From Charles Crawford Sr. Represented By Andrew Frosch In Port Aransas
122 South Alister Street
Building Size
24,000 SF
Asset Type
Hotel
Closing
Dec 20, 2024
About this deal
AI
The asset involved in this transaction is a hotel located at 122 South Alister Street in Port Aransas. The hotel encompasses a total square footage of 24,000. The specifics regarding the transaction amount have not been provided in the context.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Address: 122 South Alister Street
- Market: Port Aransas
- Buyer: Kalpesh Chaudhari
- Seller: Charles Crawford Sr.
- Broker: Andrew Frosch - HVS Brokerage & Advisory
Key individuals involved in this transaction include Kalpesh Chaudhari, the buyer, and Charles Crawford Sr., the seller. The brokerage firm representing the transaction is HVS Brokerage & Advisory, with Andrew Frosch acting as the broker. The deal reflects the collaboration between these professionals in the Port Aransas market.
On the Map
Hotel
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Port Aransas 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