Akin Patel Purchases Hotel In Channelview From Jinesh, Viren, And Krutik Patel
16939 East Freeway
Building Size
24,592 SF
Asset Type
Hotel
Closing
Apr 26, 2026
AI
The property asset involved in the transaction is a hotel located at 16939 East Freeway in Channelview. It features 56 keys and encompasses a total square footage of 24,592.
Summary of transation details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Address: 16939 East Freeway
- Market: Channelview
- Keys: 56
- Square Footage: 24,592
- Buyer: Akin Patel
- Seller: Jinesh Patel, Viren Patel & Krutik Patel
- Broker: Rajan Patel - Marcus & Millichap
- Attorney: Kishan Patel at KDP Law PLLC & Latitude Title
This transaction involves key individuals such as the buyer Akin Patel and the sellers Jinesh Patel, Viren Patel, and Krutik Patel, who were represented in the deal by broker Rajan Patel from Marcus & Millichap. Legal representation for the transaction was provided by attorney Kishan Patel from KDP Law PLLC alongside Latitude Title.
Players
Channelview 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