Sacramento, CA (PRWEB) February 07, 2012
Paramount Lodging Advisors (http://www.paramountlodging.com), a leading hotel advisory and hotel brokerage firm specializing in the acquisition, asset management, debt and equity placement, and disposition of hospitality assets across the United States, Canada and England, announced today that it has been retained by LNR Partners, Inc., as its exclusive agent to advise on the sale of the Residence Inn - Sacramento Airport.
The 126-suite Residence Inn - Sacramento Airport, at 2410 West El Camino Avenue, Sacramento, California 95833, is centrally located off Interstate 5 and near Interstate 80. It is within minutes of both the Sacramento International Airport and the Sacramento Executive Airport, and neighbors Natomas’ 6 million square foot office market, and is less than three miles from downtown Sacramento’s 18 million square foot office market. It is also one of the area’s only extended stay hotels, with 94 studio suites, and 32 two bedroom suites.
The Residence Inn - Sacramento Airport attracts a strong mix of corporate, government, group, and leisure business due to its close proximity to several demand generators and amenities, including historic “Old Sacramento,” downtown Sacramento, the Sacramento Zoo, the Power Balance Pavilion, the State Capitol Building, the California Exposition and State Fair, the Sacramento River, Discovery Park, the Natomas Corporate Center, the recently-opened Gateway Tower office building, and a wide range of food, recreation and entertainment options.
Additional key investment highlights include:
- REO sale
- Immediate and significant ADR upside through capital improvements
- Improving market conditions, rate and occupancy well below peak levels
- Well below replacement costs
“We are pleased to advise LNR Partners, Inc. on the sale of this exceptional property and further solidify our focus on west coast assets” commented Scott Griemsmann of Paramount Lodging Advisors. “Internationally, our hotel brokers have completed over $3.2 billion in hotel transactions, and have proven success across all hotel brokerage asset classes, covering a full range of resorts, hotel note portfolios and economy service hotels. We believe that our expert advice, combined with the attractive features and ideal central location of the Residence Inn – Sacramento Airport, will help achieve a successful outcome for both seller and buyer.”
For more information or media inquiries, please contact Scott Griemsmann at sgriemsmann(at)paramountlodging(dot)com or 415.439.5310.
About Paramount Lodging Advisors
Paramount Lodging Advisors is a hotel advisory and brokerage firm specializing in the acquisition, asset management, debt and equity placement, and disposition of hospitality assets across the United States, Canada, & London. For more information about Paramount Lodging Advisors, and to see hotels currently on the market visit http://www.paramountlodging.com.
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