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15350 John F Kennedy BLVD, ...

Private LLC Acquires Property At 15350 John F Kennedy Blvd Houston With Seller's Rep HVS Brokerage & Advisory
SOLDHotel

Private LLC Acquires Property At 15350 John F Kennedy Blvd Houston With Seller's Rep HVS Brokerage & Advisory

15350 John F Kennedy BLVD, Houston...

Building Size

Asset Type

Hotel

Closing

Nov 19, 2023

AI

The property involved in the transaction is the Ramada Houston Intercontinental Airport South, a hotel with 96 rooms located at 15350 John F Kennedy Blvd, Houston. The hotel is situated approximately four miles from George Bush Intercontinental Airport. The specific transaction amount was not disclosed, and the total square footage of the property is 0.

Summary of transaction details:

In this transaction, Marcus & Millichap facilitated the sale and also procured the buyer, a Dallas-based limited liability company. The seller was represented by Lisa Hankamer, Andrew Frosch, Allan Miller from HVS Brokerage & Advisory, and Chris Gomes from Marcus & Millichap. Other terms of sale have not been disclosed.

Players

Allan Miller

Marcus & Millichap

Broker

$162.9M

vol

52 deals

Broker
PL
Private LLCBuyer

Houston 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