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3659 Prairie Waters Dr Gran...

Dev Surati's NorTex Lodging Acquires Hotel In Grand Prairie For $X.XM
SOLDHotel

Dev Surati's NorTex Lodging Acquires Hotel In Grand Prairie For $X.XM

3659 Prairie Waters Dr Grand Prairie, TX 75052, USA

Building Size

102,932 SF

Asset Type

Hotel

Closing

May 31, 2023

AI

A hotel located at 3659 Prairie Waters Drive in Grand Prairie has been sold in a recent transaction. The property spans across 102,932 square feet and has been acquired by NorTex Lodging, represented by Dev Surati. The seller, CWA Management, was represented by Charlie Anderson. The deal was facilitated by Chris Janowski from Duwest Realty, who served as the buyer's representative, and Andrew Lehner from CBRE, who represented the seller.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: Not disclosed
  • Address: 3659 Prairie Waters Drive
  • Market: Grand Prairie
  • Buyer: Dev Surati - NorTex Lodging
  • Seller: Charlie Anderson - CWA Management
  • Buyer's Representative: Chris Janowski - Duwest Realty
  • Seller's Representative: Andrew Lehner - CBRE

While specific financial details of the transaction were not disclosed, the sale of the hotel on Prairie Waters Drive marks an important deal in the Grand Prairie market. The involvement of reputable representatives like Chris Janowski and Andrew Lehner adds credibility to the transaction and further emphasizes the significance of this property sale.

Players

Chris Janowski

Duwest Realty

Broker

10 deals

Broker

Texas 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