Bothell, WA – Paramount Lodging Advisors (PLA) has successfully executed the sale of the Red Lion Hotel located 3850 Monte Villa Parkway, Bothell, Washington. PLA Senior Managing Directors, Scott Griemsmann and Brent Clemens, and Senior Associate Subu Thiagarajan represented the seller in this transaction. The 84-room Red Lion Hotel, former SpringHill Suites by Marriott, is ideally situated within the Seattle MSA and is proximate AT&T, EKOS Corp., Google, HaloSource, Philips, and a short drive to Seattle Tacoma International Airport (SEATAC).
“We were extremely pleased with the activity and level of interest in this opportunity, which resulted in close to five hundred NDAs and extremely aggressive bidding activity in the Ten-X auction event. This was an excellent opportunity for the purchaser to acquire another hotel for their portfolio in the rapidly expanding/growing Seattle MSA," added Griemsmann. This transaction contributes to PLA's activity along the West Coast and represents the third closing in recent months with three additional deals under contract in the Western US.