110 Vital Courtyard by Marriott in Laredo, Texas Offered

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The pick out-services lodge assets, created in 1995, was procured by Landstar Motels, primarily based in Ciudad Juárez, Mexico, from Kiertan Laredo LLC, dependent in Houston, Texas.

Courtyard by Marriott Laredo - Exterior

Courtyard by Marriott Laredo

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HVS Brokerage & Advisory announced the sale of the 110-critical Courtyard by Marriott Laredo, found at 2410 Santa Ursula Avenue, Laredo, Texas 78040.
 
The pick-assistance hotel property, developed in 1995, was procured by Landstar Lodges, based in Ciudad Juárez, Mexico, from Kiertan Laredo LLC, based in Houston, Texas.
 
“As we shift our concentrate to our other resort property, it was time to get rid of this Courtyard assets from our portfolio. Laredo is a special industry that is captivating to a decide on team of buyers. Eric and his team did a phenomenal occupation positioning the asset in the industry and designed a competitive bid procedure securing several gives from Mexican national investors. They obtained the offer closed on time, and we are very joyful with the approach,” commented Amita Patel, Kiertan Laredo LLC.
 
In spite of the impression on most markets owing to the COVID-19 pandemic, this hotel’s rooms income greater 9% in 2020. The home rewards from extremely great visibility off the frontage street alongside Interstate 35 in Laredo and is the closest quality-branded resort to the U.S./Mexico border Puente Internacional 2 Juárez – Lincoln. The customer has secured a prolonged-phrase franchise license settlement with Marriott and programs to finish an intensive renovation of the lodge.
 
“We made a internet marketing method for this asset that tapped into our firm’s global get to. We concentrated on Mexican traders that have an understanding of the nuances of the Laredo market. Through this, we secured a very experienced present Marriott franchisee that could near the offer immediately with no re-trades. The sale is a testomony of HVS’s capacity to deliver effective internet marketing alternatives to our clients,” said Eric Guerrero, Managing Director of HVS Brokerage & Advisory.

HVS Brokerage & Advisory group members Eric Guerrero, James Rebullida, and Fadi Rawashdeh participated in this transaction.

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