Park-Equities Successfully Finalizes Sale of 'My Town' Hotel
Park-Equities Completes Sale of 'My Town' Hotel
On a recent Monday, Park-Equities proudly declared the completion of a significant transaction involving the 'My Town' hotel located in a charming Cincinnati suburb. The sale reflects Park-Equities' ongoing success in the extended stay hotel market, marking their seventh sale in just three years.
Details of the Transaction
The deal was exceptionally advantageous for both parties. The representatives provided an impressive valuation of the hotel at four times its gross revenue. The hotel featured specific amenities, aligning perfectly with the buyer’s brand requirements, particularly the full kitchens in all 119 units. This aspect makes the hotel perfectly suited for guests looking for longer stays.
Future Opportunities
Continuing with their momentum, Park-Equities remains actively engaged in exploring further opportunities in extended stay hotels, including conversions from hotel properties to multi-family residences. They are also pursuing an exclusive deal involving a family-owned luxury hotel known for its high standards, located in the Midwest region.
Collaboration with Brokers
The recent hotel sale was executed in partnership with JDS Real Estate Services, a reputable brokerage in Kentucky. Their collaboration highlights the importance of regional expertise in navigating the complexities of real estate transactions.
About Park-Equities
Park-Equities stands out as a full-service real estate investment advisory, primarily focusing on the hospitality and multi-family sectors. Being a subsidiary of California Park Brokerage Inc., they boast an impressive track record of managing transactions that exceed a total volume of over 1 billion dollars. Their esteemed reputation in the market is a testament to their commitment to providing exceptional service and investment guidance.
Frequently Asked Questions
What is Park-Equities?
Park-Equities is a real estate investment advisory firm specializing in the hospitality and multi-family markets.
What was sold in the recent transaction?
The recent transaction involved the sale of the 'My Town' hotel located in a suburb of Cincinnati.
What amenities does 'My Town' hotel offer?
All 119 units at the 'My Town' hotel come equipped with full kitchens to accommodate longer stays.
How many properties has Park-Equities sold in the last three years?
Park-Equities has completed seven sales in the extended stay hotel sector over the past three years.
Who collaborated with Park-Equities on this deal?
The sale was conducted in collaboration with JDS Real Estate Services, a Kentucky-based brokerage.
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