Paramount Lodging Advisors Selected to Advise in the Sale of Homewood Suites Oakland Waterfront in Oakland, California

Paramount Lodging Advisors (“PLA”) has been retained as an exclusive advisor in the sale of the Homewood Suites, Oakland, California. The hotel is located at 1103 Embarcadero Road, immediately off of Interstate 880, approximately 2 miles southeast of Oakland’s downtown and 9 miles east from San Francisco.

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Homewood Suites Oakland, California

San Francisco, CA (PRWEB) October 21, 2012

The hotel occupies a waterfront location at the edge of the city of Oakland, within the “Oak to Ninth” mixed-use redevelopment area, and enjoys a setting central to the Oakland Airport and Bay Bridge to San Francisco. The City of Oakland and the Port Authority’s redevelopment efforts have finally taken hold, the most significant and transforming the former Oakland Army Base, The “Oak to Ninth” project, and the Coliseum redevelopment project. Combined the projects will literally transform the Oakland waterfront from the Oakland Airport to the Bay Bridge, turning vacant industrial and container yards to a vibrant waterfront destination and community over the next decade. The projects have been funded through state and federal grants in conjunction with private investment, the Coliseum project started in 2009, the former Army Base is scheduled to begin the summer of 2013, and the “Oak to Ninth” project is on target to begin in 2014

The 132-room Homewood Suites is a 3-story stick construction hotel that was opened in January 2002. The hotel’s waterfront location provides a setting that is unmatched by its competitors and lies approximately 2 miles from 12.85 million square feet of office space in Oakland’s CBD and over 26 million square feet within the greater Oakland area.

Investment Highlights:

  • Immediate operational upside
  • Significant RevPAR growth projected for East Bay in 2013 through 2015
  • Center of Oakland Waterfront transformation
  • 12.85 million square feet Office Space in Oakland’s CBD
  • Delivered Free & Clear of management
  • One of the most sought after brands in the Country
  • Redevelopment projects will infuse significant money to the local economy and provide local jobs for decades to come

About Paramount Lodging Advisors

Paramount Lodging Advisors is a hotel brokerage and advisory firm specializing in the asset management, debt and equity placement, and transaction of hospitality assets across the United States, Canada, & Europe. For more information about Paramount Lodging Advisors, and to see hotels currently on the market visit http://www.paramountlodging.com


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