Paramount Lodging Advisors, as the exclusive advisor to LNR Partners, sold the 70-room Holiday Inn Express located at 1716 Jefferson St. in Jefferson City, Mo.
The hotel was purchased by a local investor and will be rebranded.
Managing directors Adam Montufar, Bennett Webster and Brent Clemens represented the seller and completed a successful auction of the hotel via Auction.com.
“There are always a unique set of challenges to overcome when auctioning an REO asset,” said Montufar. “Despite a required flag change, we were able to generate interest from more than 135 buyers in under 40 days.”
This marks the eighth successful Auction.com sale for Paramount Lodging Advisors and 10th total sale on behalf of client LNR Partners. The transaction closed on the same day Paramount sold a 15-property Wyndham portfolio on behalf of a court-appointed receiver.
