Adam Panjwani Acquires Rodeway Inn In Houston With Brokers Rajan Patel, Alexander Curry & Allan Miller
6712 Morningside Drive
Building Size
21,957 SF
Asset Type
Hotel
Closing
Aug 3, 2026
About this deal
AI
The asset involved in this transaction is a hotel located at 6712 Morningside Drive, known as Rodeway Inn. This property has a total of 30 keys and encompasses a square footage of 21,957 in the Houston market.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Address: 6712 Morningside Drive
- Market: Houston
- Keys: 30
- Square Footage: 21,957
- Buyer: Adam Panjwani
- Seller: Shailesh Patel
- Broker Representatives: Rajan Patel, Alexander Curry & Allan Miller - Marcus & Millichap
The key individuals involved in this transaction include the buyer, Adam Panjwani, and seller, Shailesh Patel. The broker representatives facilitating the deal were Rajan Patel, Alexander Curry, and Allan Miller from Marcus & Millichap, who provided their services in this transaction.
On the Map
Hotel
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Players
Houston 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