Paramount Lodging Advisors (PLA) Arranges the Sale of the Doubletree Jersey City

Paramount Lodging Advisors | July 17, 2024

Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Doubletree Jersey City.  PLA transacted the 198-room asset through a receiver sale. The buyer purchased the property with an assumption of the existing CMBS debt.  Sales efforts were led by PLA Principals Bennett Webster and Brent Clemens, and PLA director Sean Banilivy. “Our team remains bullish on the market and we look forward to continued strong positive RevPAR trajectory for New York City and surrounding areas.  We were pleased to be able to trade with the debt assumption amidst continued uncertainty in capital markets,” noted Webster. PLA is now also...