Cedar Rapids, IA – Paramount Lodging Advisors (PLA) has successfully executed the transaction of the 83-room Holiday Inn Express (Collins Rd.) in Cedar Rapids, IA. Managing Director Adam Montufar and Associates Lindsey White and Beau Mullenix represented the seller in the sale.
This transaction presented the buyer with the ability to capitalize on in-place operational efficiencies and increasing revenues generated from the expanding Cedar Rapids market. Upon completion of the property improvement plan (PIP), the buyer should be ideally positioned to further penetrate the market. “Cedar Rapids continues to experience measured growth in nearly all-key economic indices including population trend, job growth, residential home building, commercial development, and public investment. Several area major employers have publicly announced or begun aggressive capital expenditure programs in recent years,” stated Adam Montufar. The Holiday Inn Express is the PLA Iowa office’s third successful transaction in Eastern Iowa in the past 30 days.