Crystal Investment Property, LLC, a member of Hotel Brokers International, announced the successful sale of the Village Inn and Restaurant in Springfield, Oregon. Crystal Investment Property, LLC, a licensed Oregon broker, exclusively represented the Seller in the sale. Joseph P. Kennedy, President of CIP, worked closely with the Seller, Buyer and Buyer’s Broker as well as the parties’ other professionals, to negotiate a mutually acceptable sale. The final sale price is confidential.
The 67-key property is ideally situated with strong freeway access and visibility and includes a casual dining restaurant and shared pool and fitness facilities. It is located just 5 miles from world renowned University of Oregon in Eugene (“Track Town USA”) home to the Oregon Ducks! The hotel offers an outstanding mix of rooms for a variety of guests as well as excellent proximity to the Downtown area, sports venues and other area attractions. The new owner intends to complete some capital improvements including a renovation of the restaurant and rooms.
Joseph Kennedy, President of Crystal Investment Property said, “This property enjoyed an extremely strong level of interest immediately upon bringing it to the market however the challenge was to determine which Buyer was best qualified to complete the transaction within the parameters required by the Seller. We had multiple competing offers and were able to secure not only the highest market price but a capable cash Buyer. The new ownership brings fresh enthusiasm to this motel and we look forward to the positive impact this will provide in the community.”
Crystal Investment Property, a premiere hospitality investment advisory and brokerage company located in the Pacific Northwest, maintains the most cutting-edge technological, online and social media presence as well as a full range of traditional and web-based marketing reaching local, regional, national and international clientele. The firm’s core services of hospitality asset acquisition/disposition are supported by innovative and creative solutions to maintain position as the most active and successful hotel broker in the region. Crystal Investment Property represents the full spectrum of hospitality real estate owners and their experience covers all hospitality assets types, including: full service hotels, boutique hotels, select service hotels, limited service hotels, as well as development projects, and leasehold transactions. Crystal Investment Property may be accessed online at www.crystalip.com.
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. Founder and host of the popular Hotel Investor’s Marketplace Webcast, HBI also developed the Certified Hotel Broker professional designation program. 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:
Joseph P. Kennedy, President
Crystal Investment Property, LLC
Glenda J. Webb, Managing Director
Hotel Brokers International
Kansas City, Missouri
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