NewcrestImage Acquires Hotel At 512 Main St In Fort Worth For $164 Keys
512 Main St, Fort Worth, TX, USA
Building Size
99,428 SF
Asset Type
Hotel
Closing
Sep 13, 2021
About this deal
AI
A hotel located at 512 Main St in Fort Worth has been sold in a recent transaction. The sale took place on September 14, 2021. The property, owned by Mehul Patel, was sold to NewcrestImage, with Mehul Patel representing the buyer in the deal. The hotel, consisting of 164 keys, is situated in the Fort Worth market.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 512 Main St
- Market: Fort Worth
- Keys: 164
In this transaction, NewcrestImage, represented by Mehul Patel, acquired the hotel located at 512 Main St in Fort Worth. The deal took place on September 14, 2021. No other details regarding the transaction amount were provided.
Players
Fort Worth Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Deal FAQ
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