Aman H. Patel Of Patel Capital Groups Acquires Hotel In San Antonio From Nitin Patel
6815 West US Highway 90
Building Size
82,898 SF
Asset Type
Hotel
Closing
Sep 13, 2024
AI
The transaction involves a hotel asset located at 6815 West US Highway 90 in San Antonio, featuring 82,898 square feet. The property is currently undergoing renovations to open as a Dual Brand, incorporating both Days Inn and Baymont by Wyndham.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Buyer: Aman H. Patel - Patel Capital Groups
- Seller: Nitin Patel
- Broker: Ryan Patterson - Mumford Company
The key individuals in this transaction include Aman H. Patel representing Patel Capital Groups as the buyer, and Nitin Patel as the seller. Ryan Patterson of Mumford Company acted as the broker for this deal.
Players
San Antonio 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