St. Louis, MO—Paramount Lodging Advisors (PLA) has successfully sold the Holiday Inn Express St. Louis – Central West End (CWE) located at 4630 Lindell Blvd. PLA Associate Beau Mullenix, Managing Director Adam Montufar, and Senior Managing Directors Bennett Webster and Brent Clemens representing the seller in this transaction. The sale of the 127-room Holiday Inn Express adds to PLA’s continued success both in St. Louis and on the Ten-X platform. The hotel is located in the epicenter of CWE's most high-profile retail and multi-family developments.
"We were extremely pleased with the interest level received during this marketing process, resulting in excess of 400 buyers reviewing the deal. It was a great opportunity for the purchaser to acquire another IHG property within the region, in what we believe is one of the strongest prospective submarkets in the entire midwest. The Central West End is experiencing a resurgence in development and robust demand growth,” stated Mullenix.
This represents the second successful closing for PLA in St. Louis during the past 45 days with another two engagements currently under contract in the market.