Suresh Patel And Nutan Bhakta Acquire Motel 6 In Conroe From Seller Yogesh Patel

The asset involved in this transaction is a hotel located at 820 Interstate 45 South in Conroe, Texas. The hotel spans 30,872 square feet. The sale was facilitated as part of a 1031 exchange, which added complexity to the transaction timeline.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: Not disclosed
• Buyer: Suresh Patel and Nutan Bhakta
• Seller: Yogesh Patel
• Broker: Jatin "JT" Jariwala - Hotel Brokers of America
• Market: Conroe
• Date of Sale: 12/23/2024

This transaction was notable for the collaboration between the buyers and their banking institution, which facilitated financing essential for the purchase. The broker, Jatin "JT" Jariwala, expressed gratitude to the G6 Hospitality team for their swift action in expediting the franchise approval, which played a crucial role in finalizing the sale. The process from Purchase and Sale Agreement (PSA) to funding was completed in just under 40 days, reflecting efficient coordination among all parties involved.