Investing in Hospitality: UCC Foreclosure of Red Roof Inn
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Exciting Investment Opportunity in Hospitality Sector
AW Properties Global has announced a unique opportunity for investors to acquire a significant membership interest in the operational Red Roof Inn Plus. This well-established hotel, comprising 48 rooms, is situated in the heart of a vibrant region, making it a remarkable investment choice.
Details of the Foreclosure Sale
The UCC foreclosure sale represents 75% of the membership interest in Ephant Group - Redroof, LLC, which owns the hotel. This type of auction allows interested buyers to take part in a modern bidding environment, accessible remotely via Zoom, thereby enhancing convenience.
What to Expect During the Auction
Bidders should be prepared for an engaging process on auction day. The starting credit bid for this opportunity is set at $100,000. For prospective investors, the auction provides a pathway to acquire property interests without the burden of traditional title transfer complications.
Location and Features of the Red Roof Inn Plus
Located at 210 Brenda Avenue, this well-maintained hotel boasts a smoke-free environment that many travelers seek today. It offers guests complimentary Wi-Fi, an extensive cable package, and a grab-and-go breakfast, all alongside pet-friendly accommodations.
Highlights of Red Roof Inn Plus
Here are some key points regarding the hotel:
- Occupancy: Operational with strong guest satisfaction ratings.
- Amenities: Guest-friendly features such as a fitness center, complimentary breakfast, and entertainment options.
- Credit Bid: Opening bid is $100,000.
- Rating: This hotel has secured a commendable 4.5 stars on Google Reviews.
Understanding UCC Sales
UCC sales, unlike traditional property foreclosures, involve the sale of membership interests in LLCs. This innovative approach allows buyers to acquire a stake in the property without the liabilities tied to direct titleownership. As CEO Diana Peterson describes, this structure provides a win-win situation for sellers and buyers alike, streamlining the purchasing process.
Participation in the Auction
Interested bidders are encouraged to connect with Gao Family Office, LLC's counsel to obtain the Terms of Sale and bidding instructions. Legal expert James P. Roberts will be available for consultations, ensuring that bidders are well-informed about the auction process.
About AW Properties Global
Based in Northbrook, Illinois, AW Properties Global specializes in real estate consulting and auctions. The team combines skills from various backgrounds including law and finance to provide exceptional services that not only meet but exceed client expectations. They focus on delivering value through strategic asset management and comprehensive auction services.
Frequently Asked Questions
What is the opening bid for the Red Roof Inn Plus auction?
The opening credit bid for the auction is set at $100,000.
How can I participate in the auction?
Interested parties must contact Gao Family Office, LLC's counsel for The Terms of Sale and bidding instructions.
Where is the Red Roof Inn Plus located?
The hotel is located at 210 Brenda Avenue, providing convenient access to local attractions.
What are the amenities offered by the hotel?
The hotel offers several amenities including complimentary Wi-Fi, breakfast options, a fitness center, and pet-friendly policies.
What is the hotel’s current occupancy status?
The Red Roof Inn Plus operates at full capacity and boasts favorable guest reviews.
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