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Sale · Hotel

Mohit Developers Acquires Hotel In Desoto, TX
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

Jatin Jariwala

Hotel Brokers of America

Broker

$9.5M

vol

7 deals

Broker

Dipak Chauhan

Mohit Developers

Buyer

$9.5M

vol

2 deals

Buyer
Atlantic Hotels Group
Atlantic Hotels GroupSeller

Market Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

Loading comparables…

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