Seth Equities Closes Sale Of Fairfield Inn & Suites Houston Hobby Airport To Local Investment Group
8730 Gulf Freeway
Building Size
40,548 SF
Asset Type
Hotel
Closing
Mar 4, 2025
About this deal
AI
The property involved in the transaction is the Fairfield Inn & Suites Houston Hobby Airport, a hotel comprising 40,548 square feet with 69 keys, located at 8730 Gulf Freeway, Houston. The property recently underwent a full-scale renovation costing over $1.4 million, which has contributed to its enhanced marketability and value.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not Disclosed
- Address: 8730 Gulf Freeway
- Market: Houston
- Square Footage: 40,548
- Keys: 69
Rorik Seth of Seth Equities acted as the broker in this transaction, marking the firm’s first closing since its inception. The buyer was identified as a local investment group. Note from the broker states that the sale was conducted off-market.
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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