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6055 Lyndon B Johnson Freeway

Dinesh Patel Purchases Holiday Inn Express In Dallas From Perry Molubhoy Of Atlantic Hotels
SOLDHotel

Dinesh Patel Purchases Holiday Inn Express In Dallas From Perry Molubhoy Of Atlantic Hotels

6055 Lyndon B Johnson Freeway

Building Size

74,656 SF

Asset Type

Hotel

Closing

Jan 8, 2025

AI

The transaction involved the sale of a hotel asset located at 6055 Lyndon B Johnson Freeway, within the Dallas market. The property is identified as the Holiday Inn Express - Dallas Galleria, which is strategically positioned near the bustling Galleria area, enhancing its value for potential growth.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: Not specified
  • Buyer: Dinesh Patel
  • Seller: Perry Molubhoy - Atlantic Hotels
  • Broker: Jatin Jariwala - Hotel Brokers of America
  • Date of Transaction: 01/08/2025

This deal showcases the collaborative efforts and strong relationships facilitated by Jatin Jariwala from Hotel Brokers of America, who represented Perry Molubhoy and Atlantic Hotels in the sale. The transaction reflects the dynamism of the Dallas hospitality market, highlighting the opportunities available for local buyers.

Players

Jatin Jariwala

Hotel Brokers of America

Broker

$9.5M

vol

7 deals

Broker

Dallas 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