Chicago, IL (PRWEB) September 25, 2012
The closing signals the fourth successful distressed, REO lender transaction by Paramount in the preceding four weeks and is representative of Paramount's continued success in Michigan and the Metro Detroit region. Paramount ran the marketing process in less than four weeks and successfully generated more than 20 offers from over 100 buyers who executed confidentiality agreements. "We were extremely pleased with the volume and caliber of buyers who presented formal interest and we were equally pleased with the final outcome. We remain bullish on the broader Metro Detroit market across all service sectors and look forward to continued success in the area," noted PLA's Bennett Webster who exclusively represented the seller.
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