SOLDHotel
Vipul Patel, Mehul Rana & Dinesh Patel Acquire 140-Key Economy Hotel From Commonwealth Business Bank
9005 Airport Boulevard
Building Size
65,762 SF
Asset Type
Hotel
Closing
Oct 20, 2026
About this deal
AI
The asset involved in this transaction is a 140-key economy hotel located at 9005 Airport Boulevard in Houston. The property encompasses a total square footage of 65,762 and was transacted through a lender disposition. The seller was Commonwealth Business Bank.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not disclosed
- Address: 9005 Airport Boulevard
- Market: Houston
- Keys: 140
- Square Footage: 65,762
- Buyer: Vipul Patel, Mehul Rana & Dinesh Patel
- Seller: Commonwealth Business Bank
- Seller's Representative: Rorik Seth - Seth Equities
This transaction highlights the involvement of key individuals and their respective roles, including the buyer group, consisting of Vipul Patel, Mehul Rana, and Dinesh Patel, who secured the deal through a competitive process. Rorik Seth of Seth Equities represented the seller, facilitating the execution with the buyer who provided the highest certainty of execution.
On the Map
Hotel
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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