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 Successfully Completes Another Texas Transaction with the Sale of the Courtyard by Marriott in Beaumont, TX
Paramount Lodging Advisors | October 31, 2018
Beaumont, TX - Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Courtyard by Marriott in Beaumont, TX. Managing Director Kami Burnette and Managing Director Adam Montufar represented the seller in the sale. The 78-room upscale hotel is ideally located on Interstate 10 in Beaumont. This transaction represented the buyer's objective to capitalize on increasing revenues generated from the oil-driven market. Upon completion of the property improvement plan (PIP), the buyer should be well-positioned to penetrate the market. "The shale boom has generated a surge in Texas oil exports and its impact on employmen...
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 Launches Subsidiary, Paramount Capital Advisors
Paramount Capital Advisors | August 21, 2018
Paramount Lodging Advisors (PLA) is pleased to announce the launch of Paramount Capital Advisors (PCA). PCA expands Paramount's reach and expertise into the Capital Markets arena. PCA provides strategic advisory in debt financing and equity placements for institutional and individual real estate investors in the hospitality sector. Since launching the platform in July 2018, PCA's capital advisory team has successfully closed over $75,000,000 in transactions. PCA's capital advisory services further benefits Paramount Lodging Advisors' clients by providing a more extensive suite of services, such as customized capital solutions for acquis...
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...
Authenticity Confronts Branding: Non-Branded Hotel Properties Offer Great Opportunity to Those Who Understand the Market
Steven Marx | January 31, 2018
By Steven Marx Commercial mortgage brokers are always trying to keep up with the latest trends, risks and developments when it comes to real estate. Hotel lending has historically been a specialty understood and embraced by few. What other class of real estate relies on leases that may be as short as one night and also sometimes sees a decrease in net operating income (NOI) as more product is sold? What other real estate type includes an operating business that is often at least as important as the real estate itself? In days gone by, mortgage brokers were most comfortable when their hotel assets were backed by nationally recognized fra...
Paramount Lodging Advisors West Coast Office Sells California Courtyard by Marriott Land
Paramount Lodging Advisors | January 10, 2018
Paramount Lodging Advisors (PLA) has successfully executed the sale of a land parcel with approvals for a 122-room Courtyard by Marriott development located in Petaluma, California. Senior Managing Director Scott Griemsmann represented the seller in this transaction. The hotel itself will be part of the 35-acre "Riverfront" mixed use development. It is currently planned to include office, residential, retail, and 7.5 acres of open space. "We are very pleased with the results for this transaction. This is a great project in a high barrier to entry market that has easy access to Napa/Sonoma wine country and the San Francisco Bay Area. Thi...
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