Paramount Lodging Advisors Sells Ocean Front Gold Beach Inn, Ireland’s Rustic Lodges & RV Park and Ireland’s Commercial Income Property in OR
Paramount Lodging Advisors | January 31, 2019
Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Ocean Front Gold Beach Inn, Ireland's Rustic Lodges & RV Park and Ireland's Commercial Income property in Gold Beach, OR. Senior Managing Director Scott Griemsmann and Senior Associate Subu Thiagarajan represented the seller in the sale. This transaction presented the buyer a unique opportunity to acquire two independent hotels, an RV Park, and commercial rental units on several acres between the Pacific Ocean and coastal Highway 101. Upon completion of a property improvement plan (PIP), upgrading technology, and implementation of professional manageme...
Paramount Lodging Advisors Sells Bakersfield, CA Four Points by Sheraton Hotel
Paramount Lodging Advisors | January 25, 2019
Paramount Lodging Advisors (PLA) has successfully executed the transaction of the 198-room Four Points by Sheraton Bakersfield, California. The property is located at 5101 California Avenue, Bakersfield CA 93309. Senior Managing Director Scott Griemsmann and Senior Associate Subu Thiagarajan represented the seller in the sale. This transaction presented the buyer a unique opportunity to acquire a core-branded Marriott hotel at a fraction of replacement cost in a market with significant growth prospects. The hotel is situated on ~7.7 acres of prime commercial land in Central Bakersfield which also offers the buyer the potential for futur...
Paramount Lodging Advisors Sells Washington Red Lion Hotel
Paramount Lodging Advisors | September 13, 2018
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, whi...
Paramount Lodging Advisors (PLA) Sells the Four Points by Sheraton & Banquet Center Sacramento International Airport
Paramount Lodging Advisors | July 27, 2018
Sacramento – Paramount Lodging Advisors has successfully sold the 100-room Four Points by Sheraton & Banquet Center Sacramento International Airport. The PLA team members representing this sale were Senior Managing Director, Scott Griemsmann and Associate Subu Thiagarajan. This PLA-arranged sale is one of the highest price per key transactions (PPK) in the Sacramento region and one of the highest PPK Four Points by Sheraton trades in the country. JMK Hotels LLC/The Kehriotis Family purchased the hotel. Future plans for this hotel include a $2-million full-scale renovation to include an exterior refresh, all guestrooms, common ...
Paramount Lodging Advisors Team Sells Hampton Inn in Victoria, TX
Paramount Lodging Advisors | June 14, 2018
Victoria, TX—Paramount Lodging Advisors (PLA) has arranged the sale of the Hampton Inn Victoria, TX. Managing Director Kami Burnette and Senior Associate Hussain Waseem sold the property via the Real Insight Marketplace platform. The 68-room hotel is located just north of downtown Victoria and is proximate to all broader area Victoria demand. Future plans under new ownership include a significant renovation to meet Hampton's Forever Young standard. "The increasing commodities pricing is stabilizing the region and have presented a profitable opportunity for the new owner to add a premium brand to his hotel portfolio," stat...
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