Vital Hospitality Group Acquires Hotel In Katy For $5.96M With Brokers Ahmed Kabani & Suraj Dalal - The Kabani Hotel Group - Marcus & Millichap; Tim Speck
2501 Texmati Drive, Katy, Texas 77494, United States
$5,960,000
$78/SF
Building Size
75,762 SF
Asset Type
Hotel
Closing
Feb 27, 2022
About this deal
AI
The Hotel property located at 2501 Texmati Drive in Katy has been sold. The property spans 1.56 acres and was sold on 02/28/2022. The transaction was handled by brokers Ahmed Kabani and Suraj Dalal from The Kabani Hotel Group at Marcus & Millichap, along with Tim Speck. The buyer of the property is Vital Hospitality Group.
Summary of transaction details:
- Property Type: Hotel
- Sale Price: $5,960,000
- Address: 2501 Texmati Drive, Katy
- Market: Katy
- Acres: 1.56
- Brokers: Ahmed Kabani & Suraj Dalal - The Kabani Hotel Group - Marcus & Millichap; Tim Speck
The property was sold for a total of $5,960,000. It comprises a total of 69 keys, resulting in a price per key of $86,377.
On the Map
$5,960,000
$78/SF
Hotel
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Players
Katy 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
2.66%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93