NewcrestImage Acquires Hotel In Dallas From Stout Street Hospitality
1401 Commerce Street, Dallas, TX, USA
Building Size
18,818 SF
Asset Type
Hotel
Closing
Mar 1, 2021
About this deal
AI
The Hotel located at 1401 Commerce Street in Dallas was recently sold. The property was sold on 03/02/2021, and it is owned by Stout Street Hospitality, represented by Leigh Hitz. The buyer of the Hotel is NewcrestImage, represented by Mehul Patel.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 1401 Commerce Street, Dallas
- Market: Dallas
- Keys: 325
Mehul Patel, representing NewcrestImage, purchased the Hotel from Leigh Hitz, who represented Stout Street Hospitality. The transaction details, including the sale price and any loan amount, were not provided.
Players
Dallas Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
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