Hassan Landha Acquires Hotel In McAllen From Ashish Gava With Brokers Kabani Hotel Group - Marcus & Millichap
617 West Expressway 83
Building Size
60,800 SF
Asset Type
Hotel
Closing
Aug 3, 2022
AI
A hotel property located at 617 W Expy 83 in McAllen has been sold in a recent transaction. The hotel spans approximately 60,800 square feet and was purchased by Hassan Landha. The seller of the property was Ashish Gava. The transaction was facilitated by Ahmed Kabani, Suraj Dalal, and Jonathan De La Rosa of Kabani Hotel Group, who represented the buyer. The seller was represented by Marcus & Millichap.
Summary of Transaction Details
- Property Type: Hotel
- Transaction Amount: [Value not provided]
- Address: 617 W Expy 83
- Market: McAllen
- Buyer: Hassan Landha
- Seller: Ashish Gava
- Broker: Ahmed Kabani, Suraj Dalal & Jonathan De La Rosa - Kabani Hotel Group - Marcus & Millichap
The deal was successfully concluded with the assistance of Ahmed Kabani, Suraj Dalal, and Jonathan De La Rosa from Kabani Hotel Group, who represented the buyer in the transaction. The seller was represented by Marcus & Millichap, ensuring a smooth and efficient process for both parties involved.
Players
McAllen 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