Paramount Lodging Advisors Sells Bakersfield, CA Four Points by Sheraton Hotel

Paramount Lodging Advisors | January 25, 2019

Paramount Lodging Advisors (PLA) has successfully executed the transaction of the 198-room Four Points by Sheraton Bakersfield, California. The property is located at 5101 California Avenue, Bakersfield CA 93309. Senior Managing Director Scott Griemsmann and Senior Associate Subu Thiagarajan represented the seller in the sale. This transaction presented the buyer a unique opportunity to acquire a core-branded Marriott hotel at a fraction of replacement cost in a market with significant growth prospects. The hotel is situated on ~7.7 acres of prime commercial land in Central Bakersfield which also offers the buyer the potential for futur...