HOUSTON, TX, September 1, 2023: HVS Brokerage & Advisory announces the sale of the 58-key Microtel Inn & Suites by Wyndham Breaux Bridge, located at 2280 Rees Street Ext, Breaux Bridge, Louisiana 70517.
The property, built in 2009, was purchased by Patel Capital Groups, based in Texas City, Texas, from DS Operating, based in Crowley, Louisiana.
Aman Patel, Managing Director of Patel Capital Groups, commented, “We are very pleased to complete another transaction with the HVS Team. They are great to work with. I especially appreciated their hands-on involvement in ensuring a smooth escrow process to facilitate completion of the transaction. We look forward to improving the property’s current operations and capitalizing on the rebound of the Lafayette Market.”
The property benefits from its strategic location along east/west Interstate 10, a main thoroughfare that provides access to Downtown Lafayette and the nearby Gulf Coast to the west, as well as Baton Rouge to the east, with a wide array of retail shopping centers, restaurants, lodging facilities, and medical buildings in the area. The property is near many demand drivers, including the Cajundome & Convention Center, University of Louisiana at Lafayette, Halliburton, Island Operating Company, Chevron USA, Atchafalaya National Wildlife Refuge, and Lafayette Regional Airport (LFT).
“We are pleased to have been able to assist both a first-time seller and an experienced buyer in navigating current market challenges and in reaching a successful closing. We’re excited about the buyer’s plans for the property and the success ahead, for both the buyer and the hotel,” said Matt Almy, Senior Associate of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Matt Almy, Andrew Frosch, Kyle Peterek, and Fadi Rawashdeh participated in this transaction. Eric Guerrero, a licensed Louisiana real estate broker, served as broker of record for HVS Brokerage & Advisory.
Media Contact:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620
The property, built in 2009, was purchased by Patel Capital Groups, based in Texas City, Texas, from DS Operating, based in Crowley, Louisiana.
Aman Patel, Managing Director of Patel Capital Groups, commented, “We are very pleased to complete another transaction with the HVS Team. They are great to work with. I especially appreciated their hands-on involvement in ensuring a smooth escrow process to facilitate completion of the transaction. We look forward to improving the property’s current operations and capitalizing on the rebound of the Lafayette Market.”
The property benefits from its strategic location along east/west Interstate 10, a main thoroughfare that provides access to Downtown Lafayette and the nearby Gulf Coast to the west, as well as Baton Rouge to the east, with a wide array of retail shopping centers, restaurants, lodging facilities, and medical buildings in the area. The property is near many demand drivers, including the Cajundome & Convention Center, University of Louisiana at Lafayette, Halliburton, Island Operating Company, Chevron USA, Atchafalaya National Wildlife Refuge, and Lafayette Regional Airport (LFT).
“We are pleased to have been able to assist both a first-time seller and an experienced buyer in navigating current market challenges and in reaching a successful closing. We’re excited about the buyer’s plans for the property and the success ahead, for both the buyer and the hotel,” said Matt Almy, Senior Associate of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Matt Almy, Andrew Frosch, Kyle Peterek, and Fadi Rawashdeh participated in this transaction. Eric Guerrero, a licensed Louisiana real estate broker, served as broker of record for HVS Brokerage & Advisory.
About HVS Brokerage & Advisory
The Brokerage & Advisory division is a specialized group within HVS that offers services related to investment sales and capital markets, focused exclusively on the hospitality industry. With a global footprint and over 40 offices nationwide, HVS’s hospitality intelligence and extensive expertise will help you achieve the results you want.Media Contact:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620