CNA Hotel Group Acquires Hotel In Houston From Newcrest Image With Broker Michael Yu
2750 North Loop West
Building Size
46,000 SF
Asset Type
Hotel
Closing
Jan 3, 2024
AI
The 46,000 square foot hotel located at 2750 North Loop West in Houston has been sold in a recent transaction. The property was purchased by CNA Hotel Group, represented by Navin & Dennis Patel. The seller in this deal was Newcrest Image. The sale was facilitated by broker Michael Yu from CBRE.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 2750 North Loop West, Houston
- Market: Houston
Navin & Dennis Patel, representing CNA Hotel Group, acquired the hotel located at 2750 North Loop West in Houston. The seller in this transaction was Newcrest Image. The deal was brokered by Michael Yu from CBRE.
Players
Houston 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