The Ehmer Group, a San Francisco-based member of Hotel Brokers International, announces the successful marketing and sale of the Del Sol by La Quinta located in Madera, California. Richard Ehmer, President of The Ehmer Group, negotiated the sale.
The property consists of a new 97 room Upper Midscale Hotel located in the heart of the Central Valley of California. The property is ideally situated of off Highway 99 and across the street from Madera City Hall and the Madera County Offices. The city of Madera is situated in the central valley of California at the entrance to the Sierra Mountain Range. The city’s population has nearly doubled in size over the past 10 years and is now just over 60,000 residents. The area is experiencing growth, as well as a strong lodging market. The Hotel was an adaptive use renovation of an existing building and was completely renovated from top to bottom, including a new building skin, all major systems, roof and FF&E premium package.
The property was purchased by a group of hotel investors from the San Francisco Bay Area for $11,825,000 which equates to $122,000 per key and a 10% Cap Rate on Proforma. The group also owns and operates multiple hotel investments in the California Lodging Market.
"The sale of the Del Sol by La Quinta in Madera presents an incredible opportunity for the Buyer to grow their hotel portfolio with a newly renovated, performing hotel in a burgeoning California market. The Ehmer Group was proud to represent our clients in this transaction," said Mr. Ehmer.
Richard C. Ehmer is President and Principal Broker of The Ehmer Group – a full-service hospitality real estate investment and consulting firm, located in San Francisco, California. The Ehmer Group offers a full range of hospitality advisory services and assists a broad range of clients with the acquisition and disposition of hospitality assets in the United States and abroad. The Ehmer Group works extensively with key hospitality executives and principals to assist them with the marketing and sales of their assets, led by Mr. Ehmer, who has negotiated hundreds of successful transactions on behalf of his clients. The Ehmer Group represents the full spectrum of hospitality owners, including hospitality REITs, public hotel companies, gaming companies, insurance companies, hotel management companies, offshore investors, and multiple-to-single asset owners. Their experience covers resorts, full-service hotels, boutique hotels, select service hotels, limited service hotels, casinos, development projects, and leasehold transactions. The firm also has expertise and experience with the negotiation of franchise agreements and hotel management contracts for their clients.
Founded in 1959, Hotel Brokers International members lead the industry in hotel real estate sales. HBI hotel brokerage specialists have successfully negotiated more than 10,000 hotel real estate transactions and consistently account for the largest share of all select-service and economy hotel sales in the United States. The organization’s database currently comprises more than 100 property listings and the HBI website attracts site visitors from around the world. HBI is the founder and administrator of the Certified Hotel Broker Program, the real estate industry’s only professional designation program for hotel brokers. In addition to hospitality real estate advisory services, HBI offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals and investment services. For more information about HBI’s hotel listings or to become a broker or affiliate member, visit www.hbihotels.com.
For more information contact:
Richard C. Ehmer, President
The Ehmer Group
Glenda J. Webb, Managing Director
Hotel Brokers International
Kansas City, Missouri
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