LFB successfully identified a flagged hotel in Southern California's Inland Empire region, and also represented the buyer on the $10,500,000 purchase. A repeat client reached out to LFB in search of an investment property to fulfill their 1031 exchange requirement. The buyer was looking for a stabilized property with an above average return. LFB identified a hotel with a high historical occupancy that was generating enough income for our client to net a 10%+ return on their investment. Due to its oversized rooms and suites, central location adjacent to restaurants and retail establishments, and it's high quality construction, the asset has consistently run at an approximate 110 RevPAR Index, and a 10-15% higher occupancy rate, relative to its competitive set. LFB successfully managed the transaction and helped our client close on the purchase prior to their 1031 exchange deadline.
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