The property was $7M. It's a 60/40 LP/GP split. And this is a deal-specific syndication whereas REITs usually spread over multiple properties and even asset types wherein you invest and get a tiny piece of ownership.
Isn't this more properly called a "motel"??? This motel looks fairly run down compared to what most people think of when they hear the term "boutique hotel."
Yep, that's where a good operator can turn a poorly operated hotel like this one into a Guest's dream property with the design and renovation plan we have in place. Appreciate your opinion! 🙌
it's still operational right now before we do renovations, but will be doing a full site improvement this fall. Excited to turn it around and make it into a much nicer property!
Great video - really enjoyed the summary of your investment and the different POVs from your partners. Cheers and best of luck with this project!
thanks so much! appreciate it 🤙
How much was the Hotel? How much percent did you get? How do you break down the Percent? What the Difference from this than a REIT?
The property was $7M. It's a 60/40 LP/GP split. And this is a deal-specific syndication whereas REITs usually spread over multiple properties and even asset types wherein you invest and get a tiny piece of ownership.
Isn't this more properly called a "motel"??? This motel looks fairly run down compared to what most people think of when they hear the term "boutique hotel."
Yep, that's where a good operator can turn a poorly operated hotel like this one into a Guest's dream property with the design and renovation plan we have in place. Appreciate your opinion! 🙌
Is it totally vacant?
it's still operational right now before we do renovations, but will be doing a full site improvement this fall. Excited to turn it around and make it into a much nicer property!