Devraj Patel Purchases Hotel From Kamlesh Bhikha With Andrew Frosch As Broker In Kingsville
505 North Us Highway 77 Bypass
Building Size
123,275 SF
Asset Type
Hotel
Closing
Oct 8, 2025
About this deal
AI
The property asset involved in the transaction is a hotel located at 505 North US Highway 77 Bypass in Kingsville. This asset spans a total square footage of 123,275 and was sold in a transaction that occurred on 10/09/2025.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Buyer: Devraj Patel
- Seller: Kamlesh Bhikha
- Broker: Andrew Frosch - HVS Brokerage & Advisory
In this transaction, Devraj Patel is the buyer acquiring the hotel from Kamlesh Bhikha, with the representation of Andrew Frosch from HVS Brokerage & Advisory, facilitating the deal.
On the Map
Hotel
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Players
Kingsville 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