Paramount Lodging Advisors Sells 12th Consecutive Property in the Indiana Market
September 25, 2017 6:38am
Indianapolis, IN -- Paramount Lodging Advisors (PLA) is pleased to announce four transactions in Indiana over the last 14 days – starting with the sale of the Quality Inn South Bend and the Quality Inn Indianapolis. The properties were sold to a single buyer for an undisclosed amount. Managing Directors Bennett Webster and Brent Clemens, Senior Associate Mike Schlictman, and Associate Hussain Waseem represented the seller in these transactions.
The 246-room portfolio was ideally positioned next to the University of Notre Dame in South Bend and the I-465 Beltway in Indianapolis. The buyer was looking to substantially supplement the cash flow of their existing hotel portfolio.
In addition to the above sales, the PLA team also transacted on the 137-room Waterfront Hotel and Conference Center in Indianapolis and the 84-room Van Buren Hotel in Shipshewana for separate sellers.
Senior Associate Mike Schlictman said, “The sales bring us to 12 consecutive, successful engagements in Indiana and we are looking to continue that success for both our institutional and private clients."
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Paramount Lodging Advisors (PLA) is a hotel brokerage and advisory firm specializing in the sales of hospitality assets, debt and equity placement, as well as value enhancement services across the United States. For more information regarding PLA, please visit www.ParamountLodging.com.
Contact: Jacki Bubis
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