DSH Hotel Advisors, a national hotel brokerage and advisory firm headquartered in Tampa, arranged the sale of the 78-room Red Roof Plus Palm Coast for an undisclosed price and closed in 34 days.
Dennis S. Hopper, managing principal of the firm; Randy B. Taylor, SVP, investments; Dylan N. Amin, VP, investments; and Sam Patel, investment associate, represented the seller, SVM Palm Coast LLC, and the buyer, RRPC LLC.
DSH held the exclusive listing with the seller, generating more than 105 signed confidentiality agreements from qualified buyers and receiving more than 13 offers from buyers throughout the country.
“Our team had the exclusive listing with the seller and ultimately sourced the buyer—a California-based investor who closed in just 34 days,” said Hopper. “We are beginning to see the market activity pick up, and we’re expecting a robust Q3/Q4.”
The hotel is located off of Interstate 95 in Palm Coast and is situated on approximately 5.06 acres, which includes about 2.6 acres with potential for development of a new 70+ key hotel, presenting a compelling upside potential on the deal, according to the company. The three-story property is located near popular tourist destinations including Daytona International Speedway and historic St. Augustine.
Source: Red Roof Plus Palm Coast sells
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