Manmeet Arora Purchases Hotel At 199 Interstate 45 From Vikas Desai & Ravi Patel
199 Interstate 45
Building Size
85,424 SF
Asset Type
Hotel
Closing
Dec 30, 2024
About this deal
AI
The property asset involved in the transaction is a hotel located at 199 Interstate 45 in Huntsville. The hotel spans a total square footage of 85,424. The specifics of the deal include a sale involving two parties for the transfer of ownership of this asset.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Buyer: Manmeet Arora
- Seller: Vikas Desai & Ravi Patel
- Brokers: Eric Guerrero & James Rebullida - HVS Brokerage & Advisory
- Date of Transaction: 12/30/2024
The deal was orchestrated by brokers Eric Guerrero and James Rebullida, representing both buyers and sellers in this transaction. Their involvement facilitated the successful completion of the sale process for the hotel asset, marking a significant moment for the parties involved.
On the Map
Hotel
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Conroe 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