Greenwood, South Carolina (PRWEB) October 26, 2011
Paramount Lodging Advisors represented Wells Fargo Bank, N.A. as broker in the sale of a REO hotel in Greenwood, South Carolina. This was an all-cash sale and the buyer is undisclosed. The property was recently renovated and is walking distance from Lander University.
Daniel Beider, Chairman and Senior Managing Director, said, "Paramount is pleased to again successfully meet the objectives of our clients whoever they may be. The past several years have been widely discussed as frustrating by many in the hospitality industry who do not understand why lender and special servicers have not been more active with regards to hotel property sales. It is our opinion that research and understanding their evolving business models and/or requirements have allowed us to meet their objectives as a hotel broker. Real Estate transactions in the hotel industry are not fluid today, and continued success for our clients in this environment remains our only pursuit. We are thrilled our brokerage process continues to work through different parts of the economic cycle."
Paramount Lodging Advisors (Headquartered in Chicago, IL) specializes in full service hotel brokerage, hospitality advisory, debt and equity sourcing, and hotel asset management. For additional information, please visit http://www.ParamountLodging.com