DSH reps buyer, seller for Florida Red Roof

SVM Palm Coast has sold the 78-room Red Roof Plus Palm Coast, Fla., to RRPC, for an undisclosed price. 

A team from DSH Hotel Advisors, a national hotel brokerage and advisory firm based in Tampa, Fla., oversaw the deal: Dennis Hopper, managing principal of the firm; Randy Taylor, senior vice president investments; Dylan N. Amin, vice president investments; and Sam Patel, investment associate. DSH Hotel Advisors held the exclusive listing with the seller, generating more than 105 signed confidentiality agreements from 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,” Hopper said in a statement. “We are beginning to see the market activity pick up, and we're expecting a robust Q3/Q4.” 

“The Red Roof Plus Palm Coast [is] a standout property with strong historical performance and one of the highest performing Red Roof Plus properties in Florida,” Taylor said. “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.” 

“It's no secret that transaction volume has been significantly lower YoY in the hospitality market,” Amin said. “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?" 

“We are proud to have facilitated this landmark transaction, as this transaction marks the buyer's inaugural venture into the vibrant Florida market,” Patel said. “We diligently assisted the buyer in securing financing through a reputable local bank based in Palm Coast.”