SOURCE: Paramount Lodging Advisors
Paramount Lodging Advisors is pleased to announce the sale of 107-room Red Roof Inn located at 5131 28th Street SE in Grand Rapids, MI.
Grand Rapids, Michigan (PRWEB) December 04, 2012
Paramount's Senior Associate Adam Montufar exclusively represented the seller, FMW RRI NC, in partnership with Paramount's Associate Bennett Webster who assisted in negotiations with the buyer, Cascade Economy Hotel, Inc. The hotel will continue to operate as an independently owned and franchised Red Roof Inn. "This transaction further confirms investor confidence in the Grand Rapids market and the ongoing resurgence of Michigan lodging demand," noted Mr. Montufar . The transaction represents Paramount's continued success in the third and fourth quarter of this year, averaging one transaction per week since late summer.
About Paramount Lodging Advisors
Paramount Lodging Advisors is a hotel brokerage and advisory firm specializing in the asset management, debt and equity placement, and transaction of hospitality assets across the United States, Canada, & Europe. For more information about Paramount Lodging Advisors, and to see hotels currently on the market visit http://www.paramountlodging.com
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/12/prweb10197738.htm
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