Paramount Lodging Advisors has announced the sale of a 15-property Wyndham portfolio. PLA was engaged by the court appointed receiver as the exclusive representative for the sale of the portfolio.
PLA Managing Directors Bennett Webster, Brent Clemens, Adam Montufar and Associate Subu Thiagarajan led the marketing efforts on the 15-hotel portfolio, which is comprised of 1,610 rooms spanning five states.
In 45 days, PLA registered over 400 buyers and conducted approximately 150 tours, which yielded 150 unique offers.
“We were extremely pleased with the interest on the portfolio and the individual assets. The marketing stats give a clear indication of the depth of the Paramount team and our ability to execute in an efficient manner on a geographically dispersed portfolio,” noted Webster. Clemens added, “We are pleased to have performed in such a short timeframe and to do so at our initial value indication.”