MIAMI, Florida—Kabani Hotel Group announced that Ahmed Kabani, chief executive officer and founder, along with partners Suraj Dalal and Kian McLean, has successfully completed the leasehold interest sale of the Wyndham Garden Tallahassee Capitol, a 147-room property located in Tallahassee, Florida. The transaction closed at a sale price of $7,915,000, representing a price per key of $53,844.
Kabani Hotel Group held an exclusive listing for the property. The asset required a defeasance process to facilitate the sale. Despite operating with negative cash flow, the property traded at a 2.72x room revenue multiplier.
“This was a challenging deal that required us to navigate several complexities, including CMBS loan defeasance, leasehold transfer, constrained debt availability, and multiple prior failed sale attempts,” said Suraj Dalal, partner at Kabani Hotel Group. “As our eleventh hotel closing of 2025, we were able to leverage our extensive deal history and investor relationships to bring this to a successful close.”
“This transaction truly tested the depth of our buyer network,” said Kian McLean, partner at Kabani Hotel Group. “Given the challenges, from CMBS defeasance to a leasehold structure and negative cash flow, only a highly qualified and motivated buyer could get this to the finish line. The fact that we were able to source such a buyer speaks volumes about the reach and strength of our investor relationships.”
The Kabani Hotel Group has completed 11 hotel transactions in 2025 to date, with the majority of those taking place in Florida.
