Nick & Vicki Massad And Charles Leddy Acquire Hilton Houston Westchase From Cai Kui For $24.1M
9999 Westheimer Road
Building Size
—
Asset Type
Hotel
Closing
May 20, 2025
About this deal
AI
The asset involved in this transaction is a 297-room hotel located at 9999 Westheimer Road in the Houston Westchase area. The property is classified as a hotel asset in the Houston market and was previously assessed at $24.1 million. It had been under a $40.55 million CMBS loan in special servicing since 2020.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $24.1 million
- Buyer: Nick & Vicki Massad - American Liberty Hospitality; Charles Leddy & Bobby Magee - Escalera Capital
- Seller: Cai Kui
- Broker: Plascencia Group
- Number of Keys: 297
The acquisition was made by American Liberty Hospitality and Escalera Capital, which are represented by Nick & Vicki Massad and Charles Leddy & Bobby Magee respectively. The deal was brokered by Plascencia Group, ensuring a smooth transaction process for the involved parties.
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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