 Los
Angeles, Oct 2, 2007- PKF Capital has arranged the sale of the 224 room
full service Doubletree Carson Civic Plaza Hotel located in the South Bay
area of Los Angeles. PKF Capital represented the seller, Carson Inn,
Inc. The buyer was Harvard Grand Investment, Inc. The seller
purchased the property in March 2005, and recently completed an extensive
renovation as part of the conversion of the property to the Doubletree
brand.
The successful sale to Harvard Grand Investment was a result of an extensive marketing campaign by PKF Capital, which included production of high quality marketing materials, hosting a complete due diligence war room web site, and a competitive call for offers process. The complex sale transaction included new franchise licensing, liquor license transfer, and the funding of a new acquisition loan. The 8-story Doubletree Carson was built in 1988 and features an outdoor pool and spa, 5,000 SF of meeting space, full service restaurant, sports bar, fitness room and business center. Located along the I-405 Freeway midway between LAX and Long Beach, the property enjoys a mix of corporate, leisure, and group business. In addition, the Doubletree Carson is the official hotel of the Home Depot Center, a 125-acre sports campus featuring soccer, tennis, track and field, as well as other entertainment venues. About PKF Capital - PKF Capital provides comprehensive multi-service hotel brokerage to the hospitality industry. PKF Capital was formed in early 2007 as a result of the merger of PKF Consulting, one of the premiere hospitality consulting firms in the U.S., with Colliers International Hotels. PKF Capital was created with the vision of a unique platform to serve our clients in the US hotel investment market. This unique platform is delivered by a team of experienced and professional brokers, and provides a single point of contact for owners and investors. By combining accurate and timely market trends with our direct capital markets access, PKF Capital provides a superior transactional service in today�s market. PKF Capital�s platform for delivery of extraordinary client service begins with a team of experience hotel brokers known for their integrity and local market knowledge. Supporting this team are the PKF Consulting and Hospitality Research divisions, which provide current market data and accurate industry operating results, enabling us to deliver the highest quality documentation and solid results. PKF Capital�s access to capital markets is through Cohen Financial, a partner through common ownership. PKF Capital believes successful transactions will result from solid fundamentals that include strong market knowledge and market trends, realistic and accurate financial projections, and current understanding of the capital market�s impact on our industry. |