Kishan Patel Shivam Patel Sanket Patel Acquire Hotel In Dallas From John Murray
6950 North Stemmons Freeway
Building Size
81,566 SF
Asset Type
Hotel
Closing
Oct 18, 2024
About this deal
AI
The property asset involved in the transaction is a hotel located at 6950 North Stemmons Freeway, Dallas. The hotel has a total square footage of 81,566. The transaction has been classified under the hotel asset type.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 6950 North Stemmons Freeway
- Market: Dallas
- Square Footage: 81,566
- Buyer: Kishan Patel, Shivam Patel, Sanket Patel - INNIN Hotel Partners
- Seller: John Murray
- Broker: Al Calhoun - CBRE
The deal involves buyers Kishan Patel, Shivam Patel, and Sanket Patel, who represent INNIN Hotel Partners. The property was sold by John Murray, with brokerage services provided by Al Calhoun from CBRE.
Players
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