UCC Foreclosure Auction of Red Roof Inn Plus Membership Interest
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Auction Announcement for Red Roof Inn Plus Membership Interest
AW Properties Global, teamed with AuctionWorks, has exciting news regarding a lucrative business opportunity. They are set to auction off 75% of the membership interest in Ephant Group - Redroof, LLC, the company that owns the operational Red Roof Inn Plus, featuring 48 rooms. This well-maintained hotel, with its strategic location, has attracted significant interest from potential investors.
Details of the Upcoming Auction
The auction is scheduled to be conducted remotely on a specific date, allowing bidders to participate from anywhere. This innovative format is convenient for interested parties, ensuring a broader range of potential bidders. The starting bid for this membership interest is pegged at $100,000, which presents a unique investment opportunity to those looking to enter the hospitality sector.
Investment Opportunity
The Red Roof Inn Plus is situated in a prime area that boasts easy access to several local attractions. With its comprehensive amenities, including complimentary Wi-Fi and pet-friendly accommodations, it serves guests looking for affordability without compromising on service quality.
Understanding UCC Sales
The auction process is organized as a UCC foreclosure sale. Unlike traditional foreclosures, UCC sales involve selling interests instead of the property itself, which can reduce liability for buyers. This unique aspect appeals to many investors, making this auction particularly attractive.
Why Invest in Red Roof Inn Plus?
According to Diana Peterson, CEO at AW Properties Global, the Red Roof Inn Plus offers a compelling portfolio entry point due to its operational success and customer satisfaction ratings. The hotel has a high 4.5-star rating, making it an appealing destination for value-conscious travelers.
Property Features Listed
The hotel offers numerous features likely to enhance guest satisfaction, such as:
- Location: Conveniently positioned off US-150 Bypass.
- Property Type: A well-known brand that is recognized nationally.
- Amenities: Comprehensive amenities including breakfast options and recreational facilities.
- Operational Status: Currently up and running, attracting guests regularly.
- Occupancy Rate: The hotel is operational which suggests steady revenue potential.
Contact for Bidding Information
Interested bidders should reach out to the designated counsel representing Gao Family Office, LLC. Comprehensive details regarding bidding procedures and terms of sale will be provided upon request. Specifically, inquiries can be directed to James P. Roberts, Esq. at Burr & Forman LLP.
About AW Properties Global
AW Properties Global is a leading firm with extensive experience in real estate and auction services. Their commitment to client satisfaction is evidenced in their outstanding record of helping clients maximize value on investments. The firm specializes in various services, including investment sales and auctions, enhancing their clients' portfolios with tailored solutions.
Frequently Asked Questions
What is the date of the auction?
The auction is set to take place on November 8, 2024.
What is the opening bid for the auction?
The credit bid is set at $100,000 for the membership interest.
Where is the Red Roof Inn Plus located?
The hotel is situated at 210 Brenda Avenue.
What amenities does the hotel offer?
Facilities include complimentary Wi-Fi, a fitness center, and pet-friendly options.
Who can I contact for more auction details?
Contact James P. Roberts, Esq. at Burr & Forman LLP for more information regarding the auction.
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