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Mohr Partners Negotiates Sale of 85-Room Hotel in Red Oak, TX
Mohr Partners, Inc., a global corporate real estate services firm based in Newport Beach, CA, has closed on the sale of the La Quinta Inn & Suites, an 85-room hotel built in 2020, located in Red Oak, Texas. Located at 508 N I-35e, Red Oak, TX, the hotel is near downtown Dallas. The transaction amount was not disclosed.
Mohr Partners’ Capital Markets division, led by Eric Beichler, managing \principal/shareholder and Grant Palmer, managing director, sourced the opportunity to an out-of-state private buyer, who was not named.
“We are pleased that we were able to successfully sell the asset for the ownership group in a very timely manner while achieving a meaningful sale of seven times gross revenue,” Beichler said.
Palmer and Beichler exclusively represented the buyer in the transaction, which achieved a meaningful value equal to seven times the hotel’s gross revenue. Additional terms of the sale were not disclosed.
- ◦Sale/Acquisition
