MBA Hotel Brokers, Inc. announces the successful sale of the 73 unit, 4—story Holiday Inn Express in Easton Maryland. John Downes, Associate Broker with MBA Hotel Brokers had a prior relationship with the seller and represented the seller. Mr. Downes knew several potential buyers with interest in purchasing additional hotels on the Maryland Eastern Shore and was able to bring a buyer with interest in purchasing additional hotels on the Maryland Eastern Shore.
MBA Hotel Brokers, Inc. announces the sale of the Wingate by Wyndham East Louisville Kentucky. Suresh Patel was the listing broker and represented the seller in this deal. The hotel has strong performance and cash flow. The buyer is a regional investor who understands the market and appreciates the location and the product. The 74 unit Wingate is only 11 years old and has been continually updated, including recent capital improvements like new mattresses, carpeting, and more.
MBA Hotel Brokers, Inc. announces the sale in June of the portfolio sale including the Eisenhower Hotel and Conference Center, Aspire Hotel, Allstar Events Center, and Devonshire Village Condominiums. The portfolio sale consisted of the last remaining properties in a large estate. Due to the complexities of estate ownership with many heirs, and the expediency of the auction process, the property was auctioned on May 12th. Charlie Fritsch worked hard to galvanize interest in bidders prior to the auction and secured a field of motivated buyers making offers before the auction and bidding live during the auction.
MBA Hotel Brokers, Inc. announces the sale of the Comfort Inn and Suites, located at just north of Memphis, Tennessee. Suresh Patel was the listing broker and represented the seller in this deal. The sellers were retiring and motivated to sell. MBA Hotel Brokers initiated a marketing blitz campaign and within 3 weeks of marketing, had the Comfort Inn under contract. The buyer similarly moved quickly and the hotel sold less than 12 weeks after the listing date.
MBA Hotel Brokers Inc. arranged the May sale of the Econo Lodge located in Clarion, Pennsylvania. Suresh Patel, Associate Broker with MBA Hotel Brokers Inc, represented the seller. John Downes of MBA Hotel Brokers procured the buyer. Lynda Drehmer of MBA Capital Funding arranged the SBA 7(a) acquisition loan for the buyer. The buyer plans on converting the hotel to a Motel 6 and Studio 6 dual brand.
MBA Hotel Brokers Inc. closed on the sale of the former Express Inn in March. John Downes, Associate Broker with MBA Hotel Brokers, represented the seller, NK Hospitality LLC. John Downes knew the seller knew through other hotel properties that they own. Lynda Drehmer of MBA Capital Funding arranged the SBA 7A loan for the buyer. The buyer has converted the Independent hotel to a Motel 6.
"Thank you for all your help in the purchase of the Econolodge, Fort Payne, AL. Suresh Patel and MBA Hotel Brokers' service and experience were instrumental in successfully completing this transaction. I will use MBA Hotel Brokers' service in the future for other acquisitions. Also, I will strongly recommend to my friends and family, if they ever want to buy or sell hotels". - Buyer Econolodge, Alabama