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CBRE Arranges Galesburg Hotel Deal
CBRE recently represented Auburn Classic Hotel Group, LLC in the sale of Baymont Inn & Suites in Galesburg, IL, approximately 200 miles west of Chicago. Nate Sahn, James Foxx and Pravin Boteju of CBRE Chicago represented the seller in the transaction. The 72-key property sold to Pat Patel for an undisclosed sum.
“This hotel was developed and operated by the former ownership group since 1997, establishing the property as a premier lodging choice for guests traveling to Galesburg,” said Foxx.
“Recently converted to a Baymont Inn & Suites from a Holiday Inn Express in 2016, the hotel needed minimal renovations, allowing the new buyers to step in and take advantage of the growing Galesburg market as evidenced by the property’s increasing room revenue trend during the sale,” he continued.
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- ◦Sale/Acquisition
