PKF Capital Arranges Sale of Lodi Inn
Lodi, California
Sacramento, CA - March 8, 2010 - PKF Capital has arranged the sale of the 91 unit Lodi Inn located in Lodi, California. Dan Hayward from PKF's Sacramento office and Mark McDermott from PKF's San Francisco office, represented the seller, a Northern California-based developer and operator. The buyer is an owner/operator from the Los Angeles area.
The Lodi Inn was part of a portfolio of four hotels being marketed on behalf of the owner, and the first to sell. The other properties include the Hilton Garden Inn and Holiday Inn Express in Elk Grove, and the Holiday Inn Express in Yuba City, California.
“We were able to provide the seller with a number of strong candidates.” said Hayward. “The new owners have a great plan to reposition the property and convert it into a Motel 6. This will allow them to better capitalize on the individual/leisure travelers to the area.”
“The Lodi Inn is the second sale arranged by PKF Capital in the last 30 days, following the Sheraton Pleasanton in February.” added McDermott. “We are encouraged by the recent increase in transaction activity thus far in 2010.”
About PKF Capital- PKF Capital provides comprehensive multi-service hotel brokerage to the hospitality industry. PKF Capital was formed in early 2007 as a result of the merger of PKF Consulting, one of the premiere hospitality consulting firms in the U.S., with Colliers International Hotels.
PKF Capital was created with the vision of a unique platform to serve our clients in the US hotel investment market. This unique platform for delivery of extraordinary client service begins with a team of experience hotel brokers known for their integrity and local market knowledge. Supporting this team are the PKF Consulting and Hospitality Research divisions, which provide current market data and accurate industry operating results, enabling us to deliver the highest quality documentation and solid results. PKF Capital believes successful transactions will result from solid fundamentals that include strong market knowledge and market trends, realistic and accurate financial projections, and current understanding of the capital market's impact on our industry.
The professionals at PKF Capital are available to provide market analysis, broker opinions of value, or to make a personal presentation on the current state of the hospitality market. For further information about the services of PKF Capital or the above transaction, contact:
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