paramount
Paramount Capital Advisors Secures $9.2MM Loan for Hotel Development
Paramount Capital Advisors | November 17, 2020
Paramount Capital Advisors is pleased to announce the closing of a $9,200,000 construction loan for the development of the 135 room Hampton Inn and Suites in Goddard, Kansas. The Property will be part of the Genesis Sports Complex, which when complete, will consist of 10 baseball fields hosting baseball and softball tournaments, an Aquatic Facility which will include pools for competition, as well as a water park, surfing machine, lazy river plus a 12,000 sq. ft. Health Club. The loan represents approximately 50% of the total cost of the project. The three-year construction loan was priced at a spread of 350 basis points over a Libor floor...
Paramount Lodging Advisors (PLA) Facilitates the Sale of the Four Points College Station
Paramount Lodging Advisors | October 13, 2020
Paramount Lodging Advisors (PLA) successfully led the sale of the Four Points located in College Station, TX. The marketing efforts were led by Managing Director Kami Burnette, Senior Managing Director Scott Griemsmann and Associate Mason McDavid. The 126-room hotel is adjacent to Texas A&M University, the largest university in Texas and one of the biggest employers in the region. The university also provides infrastructure and research for a growing engineering, agriculture and biomedical sector. The upscale hotel also has a 92-seat restaurant that operates for breakfast and dinner services. "This acquisition highlights the buyerâ€...
Paramount Lodging Advisors (PLA) Leads the Sale of the Hampton Inn Houston NW
Paramount Lodging Advisors | October 7, 2020
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Hampton Inn NW (Subject) located in Houston, TX.  PLA was exclusively engaged to represent the seller in the transaction of the 62-room property. The marketing efforts were led by Managing Director Kami Burnette, Senior Associate Subu Thiagarajan and Associate Mason McDavid. The Houston hotel is located in the northwest Houston MSA and ideally situated at the intersection of US Route 290 and TX State Highway 6. The Buyer plans to renovate and maintain the Subject as a Hampton Inn for the remainder of the term. “There has been much discussion over the near-term...
Paramount Lodging Advisors Successfully Transacts the Spanish Garden Inn Santa Barbara
Paramount Lodging Advisors | September 30, 2020
Santa Barbara, CA - Paramount Lodging Advisors (PLA) has successfully executed on the sale of the Spanish Garden Inn. The Spanish Garden Inn is an award-winning luxury boutique hotel located within walking distance to many of Santa Barbara’s renowned cultural centers and restaurants. The hotel's 24 luxuriously-appointed guestrooms and suites are spread throughout 5 buildings surrounding a central courtyard with fountain and lush gardens. Scott Griemsmann, Eric Gunderson and Subu Thiagarajan represented the Seller in the transaction. “In spite of the challenges surrounding Covid-19, this asset generated tremendous interest which is a...
Paramount Capital Advisors Welcomes Matt Mitchell to the Team
Paramount Capital Advisors | September 28, 2020
Paramount Capital Advisors is pleased to announce the addition of Matt Mitchell to the team as Managing Director. Mitchell brings over 20 years of experience in commercial real estate, having worked in roles financing complex real estate transactions throughout the U.S. Most recently, Mitchell served as Senior Vice President with Hall Structured Finance (Hall) where his responsibilities included loan origination for their construction and bridge lending program. Mitchell was responsible for executing over $500 million of real estate transactions primarily focused on funding loans for the construction of hotels, multifamily and condo proj...
Paramount Lodging Advisors (PLA) Leads the Successful Sale of the Houston Area Candlewood Suites
Paramount Lodging Advisors | September 9, 2020
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Candlewood Suites in Kingwood, TX. PLA was exclusively engaged to represent the seller in the transaction of the 73-room property. The marketing efforts were led by Managing Director Kami Burnette and Associate Mason McDavid. The 77-room property is in the heart of Kingwood and is ideally located near the Kingwood Medical District. Future plans include converting the property to an Extended Stay America branded hotel. “This is an unprecedented environment with numerous headwinds including COVID-related travel restrictions and frozen capital markets. We are excit...
Longtime Hotel Industry Executive Ed Dykes Passes Away
Paramount Hotel Group | February 20, 2020
FAIRFIELD, NJ, February 20, 2020 -- Ed Dykes, Vice President of Hotel Acquisitions for Paramount Hotel Group, passed away Saturday, February 15, 2020 following a battle with cancer. Ed had more than 30 years of experience in the industry, having previously served as Senior Vice President of Operations for Prime Hospitality Corporation and playing a key role in growing the AmeriSuites brand (now Hyatt Place.) He joined Paramount Hotel Group in 2006, and was responsible for continuing the company’s growth and expansion through hotel acquisitions and opportunities for new development. “I was privileged to know and work with Ed and be a...
Paramount Hotel Group Adds Towneplace Suites by Marriott in Clinton, New Jersey to Management Portfolio
Paramount Hotel Group | December 5, 2019
Clinton, NJ – December 5, 2019 – Paramount Hotel Group, a full-service third party hotel management company, announced today that it has been awarded the management contract for the TownePlace Suites by Marriott in Clinton, New Jersey. David Hale, Vice President of Business Development at Paramount Hotel Group, made the announcement. The new 100-suite hotel offers studio, one-bedroom and two-bedroom suites with fully equipped kitchens, as well as separate living/working and sleeping areas. Guests can work and relax on their own terms in modern suites that feature full kitchens with stainless steel appliances and granite countertops, ad...
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