DSH Hotel Advisors Announces Sale of Red Roof Plus Palm Coast, FL - Guided Transaction from Contract to Close In 34 Days
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
[email protected]
SOURCE DSH Hotel Advisors
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article