Scope of Work:
Success close of escrow – Best Western – Yucca Valley, California
Description of Project:
Veno Nathraj, a Hotel Broker with HTL Hospitality Advisors, is pleased to announce the recent sale of the Best Western Joshua Tree in Yucca Valley, California. HTL represented the seller, Kush Hotels, LLC in the transaction, which saw the 94-unit property close on June 1st 2015. The buyer of the property was 1031 exchange buyer from Texas. The hotel was in very good condition and was to retain the Best Western brand. The property traded at a 4.6 times room revenue on a 6.75% Cap Rate.