TAMPA,
Fla., May 14, 2024 /PRNewswire/ -- DSH Hotel
Advisors, a national hotel brokerage and advisory firm
headquartered in Tampa, Florida –
specializing solely in hotel investment sales – announced that
Dennis S. Hopper, CCIM, Managing
Principal of the firm, Randy B.
Taylor, Senior Vice President Investments, Dylan N. Amin, Vice President Investments, and
Sam Patel, Investment Associate,
arranged the sale of the 78-room Red Roof Plus Palm Coast for an
undisclosed price and closed in just 34 days on May 1st, 2024. DSH Hotel Advisors represented the
seller, SVM Palm Coast, LLC, and the buyer, RRPC, LLC.
DSH Hotel Advisors held the exclusive listing with the seller,
generating 105+ signed Confidentiality Agreements from qualified
buyers and receiving 13+ offers from buyers throughout the
country.
Hopper: "Our team had the exclusive listing with the
seller and ultimately sourced the buyer – a California based investor who closed in just
34 days. We are beginning to see the market activity pick up, and
we're expecting a robust Q3 / Q4," says Hopper.
Taylor: "We are thrilled to announce the recent sale of
the Red Roof Plus + Palm Coast,
FL, a standout property with strong historical performance
and one of the highest performing Red Roof Plus properties in
Florida. Its prime interstate
location and the potential for further development on additional
land have attracted multiple offers from buyers nationwide and
internationally. Our team successfully sourced an out-of-state
investor for this transaction, resulting in a highly satisfactory
outcome for all parties involved," says Taylor.
Amin: "It's no secret that transaction volume has been
significantly lower YoY in the hospitality market. The interest
rate environment coupled the impacts of inflation has made it a
challenging year for hotel owners, investors and lenders. This sale
is a perfect example of our team's ability to source highly
qualified buyers from all over the country and cater to the needs
of both buyer and seller. Our team is well versed in all aspects of
the transaction process, from the point of listing to the day of
closing changeover. We had an agent meet with the buyer and seller
on closing day to advise and ensure the changeover was smooth and
efficient. How many other brokerage shops are doing this?" says
Amin.
Patel: "We are proud to have facilitated this landmark
transaction, as this transaction marks the buyer's inaugural
venture into the vibrant Florida
market, our comprehensive services extended beyond the sale, as we
diligently assisted the buyer in securing financing through a
reputable local bank based in Palm
Coast. This achievement underscores our commitment to
delivering exceptional results and unparalleled service to our
clients," says Patel.
The Red Roof Plus Palm Coast is located just off of Interstate
95 in Palm Coast and is situated
on 5.06+/- acres, which includes 2.6+/- acres with potential for
development of a new 70+ key hotel, presenting a compelling upside
potential on the deal. Additionally, the three-story Red Roof Plus
Palm Coast is centrally located to popular tourist destinations
including Daytona International Speedway and historic St. Augustine.
About DSH Hotel Advisors
www.DSHHotelAdvisors.com:
DSH Hotel Advisors is a national hotel brokerage and advisory
firm based out of Tampa, Florida.
The firm exclusively represents hotel investors seeking an
acquisition or disposition of hotel assets throughout the United States, with an emphasis in the
southeast.
Media Contact:
Dennis Hopper
8137679953
377682@email4pr.com
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SOURCE DSH Hotel Advisors