Just Closed | 114 Room Hotel

Just Closed | 114 Room Hotel | 1590 University Ave

Closing Details:

Price: $13,750,000

Rooms: 114

Lot Area: 96,267 SqFt

Building Size: 40,000 SqFt

Year Built: 1988

Transaction Overview:

The Liberow Group of Marcus & Millichap is pleased to announce the sale of 1590 University Avenue, a Quality Inn hotel composed of 114 rooms and located in Riverside, California.

Through our representation of the housing authority of Los Angeles during the past couple years, our team was able to cultivate an extensive database of hotel owners and buyers, enabling us to create many connections for potential future transactions.

The Liberow Group was originally contacted by the seller of this property over a year ago. Although his hotel was not located in our buyer’s preferred location at the time, we were confident that we would eventually be able to locate the right investor. Indeed, this property ended up being the perfect fit for a client pleased with past transactions in the Riverside area.

Due to Covid’s impact on hotel operations, we were faced with challenging obstacles with the lenders, which we had to overcome to make this deal possible. We are pleased to announce that in the end, both parties are delighted with the completion of this transaction, and we wish them continued success!

Sold by:

Sam Liberow

Senior Vice President Investments

818-212-2795

[email protected]