Jameson and Company, in cooperation with HotelBrokerOne, represented a New Mexico based investment group in the disposition of the 197 room hotel located in the East Towne corridor of Madison. The property, built in 1965, has had many renovations and franchises over the years but had become operationally obsolete as a hotel. The buyer, Repvblik, plans to convert the hotel into affordable housing. Repvblik is known nationally for its affordable housing adaptive reuse projects without the aid of any federal programs. The City of Madison and Dane County officials are in complete support of the transformation which will give some assistance in battling their current local housing crisis.
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Madison Plaza Hotel
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Fairfield Inn & Suites Paducah
The 82-room Fairfield Inn & Suites is located along Interstate 24 adjacent to the Kentucky Oaks Mall. The Hotel is proximate to several key demand generators including Ingram Barge, Baptist Health, Lourdes Hospital, Murray State University, Marquette Transportation and Pilgrim’s Pride. The purchaser will maintain the Hotel’s affiliation with Fairfield Inn and plans to complete upgrades to the property. Jameson and Company, in cooperation with Huff, Niehaus & Associates, Inc., represented Midas Hospitality in the disposition.
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Candlewood Suites Paducah
Jameson and Company, in cooperation with Huff, Niehaus & Associates, Inc., represented Midas Hospitality in the disposition. The 85-Suite Candlewood Suites Paducah recently completed a $1.6 million renovation. The property is within close proximity to Ingram Barge, Baptist Health, Lourdes Hospital, Murray State University, Marquette Transportation and Pilgrim’s Pride.
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Residence Inn Shreveport Airport
The 78-suite Residence Inn is located along Interstate 20 adjacent to the Shreveport Airport. The Hotel is proximate to several key demand generators that include Barksdale Air Force Base, Shreveport Convention Center, Red River Entertainment District, Chesapeake Energy, CenterPoint Energy, Schlumberger, Baker Hughes, Shell Oil, Halliburton and multiple casino properties. The purchaser will maintain the Hotel’s affiliation with Residence Inn and plans an extensive renovation. Jameson and Company, in cooperation with HotelBrokerOne, represented InterMountain Management in this disposition.
