The 100-room Quality Inn in Gallipolis, Ohio, was sold in a deal facilitated by Laurel Real Estate Co.
The Pittsburgh-based firm—a member of Hotel Brokers International—represented the seller in the transaction with financing arranged by Peachtree Group. The sale comes as southeastern Ohio and western West Virginia continue to attract significant industrial investment, according to the company.
Major projects, including the Nucor steel mill under construction in Apple Grove, WV—as well as ongoing manufacturing, infrastructure and energy-related development throughout the region—have contributed to increased lodging demand across the Ohio River Valley.
“Through our SBA lending platform, we support entrepreneurs in acquiring and growing businesses in markets supported by strong economic fundamentals,” Dan Uhl, VP, originations, government lending for Peachtree Group, said in a statement. “The continued growth across the Ohio River Valley reflects the type of long-term economic momentum that creates opportunities for business owners.”
“The Ohio River Valley continues to attract substantial investment, and transactions like this reflect investor confidence in markets supported by long-term job creation, industrial growth and business activity,” added Lauren D’Souza-Faze of Lauren Real Estate Co.