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Paladin Equity Buys IE Land Parcel for Everhome Suites Hotel

Paladin Equity Buys IE Land Parcel for Everhome Suites Hotel

Paladin Equity Capital, a Southern California-based real estate investment and development firm, has purchased 1.72 acres of land in San Bernardino, CA to develop an Everhome Suites extended stay hotel on the site. Progressive Real Estate Partners arranged the $1.85 million transaction, representing the seller NHOS Enterprises.

The site, located at 898 E. Harriman Place, is located in San Bernardino’s Hospitality Lane District. “Hospitality Lane has rightfully become the major hospitality destination for the San Bernardino, Loma Linda and Redlands trade areas. This land acquisition is indicative of the popular trend toward positioning hospitality uses adjacent to retail,” said Progressive Real Estate Partners’ President Brad Umansky who facilitated the deal along with SVP Paul Galmarini. Irish Commercial Brokerage represented the buyer.

The Everhome Suites hotel is projected to break ground this summer and feature 117 rooms. Choice Hotels recently launched the franchise which is specifically designed to accommodate the lifestyle of longer-stay guests.


Inside The Story

Paladin Equity CapitalEverhome SuitesProgressive Real Estate Partners' Brad UmanskyIrish Commercial Brokerage

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.