SOLDHotel
Mohit Developers Acquires Hotel In Desoto, TX
Building Size
63,097 SF
Asset Type
Hotel
Closing
Nov 6, 2023
AI
Mohit Developers, represented by Dipak Chauhan, has acquired a hotel property located at 2700 Travis Street in Desoto, TX. The hotel spans a total of 63,097 square feet.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 2700 Travis Street, Desoto, TX
- Market: Desoto, TX
- Buyer: Mohit Developers - Dipak Chauhan
- Seller: Atlantic Hotel Group
- Brokers: Jatin Jariwala & Corina Palekar - Hotel Brokers of America
The hotel property at 2700 Travis Street was sold by Atlantic Hotel Group. Jatin Jariwala and Corina Palekar from Hotel Brokers of America represented both parties in the transaction.
Players
Market 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