DALLAS, TX— Paramount Lodging Advisors (PLA) has completed the sales of the Fairfield Inn & Suites in Las Colinas and the Fairfield Inn & Suites Fort Worth/Fossil Creek in the Dallas, TX area. Senior Managing Director Scott Griemsmann and PLA Associate, Subu Thiagarajan represented the sellers in the transactions. Both Scott and Subu represent Paramount Lodging’s West Coast office located in San Rafael, CA.
“Our team did an excellent job creating competition for the hotels. We produced roughly 350 executed confidentiality agreements, 60 tours, and 25 offers between the two hotels. This kind of market exposure coupled with the high demand for hotel investments in the DFW area created a great environment to maximize value for our owners.”
The sales included a combined total of 224 keys. Both the Fairfield Inn & Suites Las Colinas and the Fairfield Inn & Suites in Fort Worth have had over $2.5MM in capital improvements since 2013.
