Velan Marimuthu Purchases Hotel On Timon Boulevard From Kamlesh Bhikha For Undisclosed Amount
3615 Timon Boulevard
Building Size
49,222 SF
Asset Type
Hotel
Closing
Jul 30, 2026
AI
The property asset involved in the transaction is a hotel located at 3615 Timon Boulevard in Corpus Christi. The total square footage of the hotel is 49,222. The deal was completed on July 30, 2026.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Address: 3615 Timon Boulevard
- Market: Corpus Christi
- Square Footage: 49,222
- Buyer: Velan Marimuthu
- Seller: Kamlesh Bhikha
- Broker: Andrew Frosch - HVS Brokerage & Advisory
The transaction was positioned within the Corpus Christi market, with Velan Marimuthu acting as the buyer, while Kamlesh Bhikha was the seller. Andrew Frosch of HVS Brokerage & Advisory represented the transaction as the broker.
Corpus Christi 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