Wise Hospitality Acquires 48,468 SF Hotel In Brownsville From Seller Grajusa And Broker Jatin JT Jariwala, Hotel Brokers Of America
1985 North Expressway
Building Size
48,468 SF
Asset Type
Hotel
Closing
Nov 16, 2023
About this deal
AI
A hotel property located at 1985 North Expressway in Brownsville has been sold. This hotel spans over a total area of 48,468 square feet. The transaction took place on November 16, 2023.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: Not specified
- Buyer: Wise Hospitality - Mohan Doraiswamy
- Seller: Grajusa - Julio Grana
- Broker: Jatin "JT" Jariwala - Hotel Brokers of America
Wise Hospitality, represented by Mohan Doraiswamy, acquired the hotel property from Grajusa, represented by Julio Grana. The transaction was facilitated by Jatin "JT" Jariwala from Hotel Brokers of America.
On the Map
Hotel
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Brownsville Hotel Market Snapshot
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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