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617 West Expressway 83

Hassan Landha Acquires Hotel In McAllen From Ashish Gava With Brokers Kabani Hotel Group - Marcus & Millichap
SOLDHotel

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

Jonathan De La Rosa

Marcus & Millichap

Broker

$659M

vol

145 deals

Broker

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