Paramount Lodging Advisors Sells SpringHill Suites
Monday June 10th, 2013 - 10:33AM B
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SOUTHFIELD, MI—Paramount Lodging Advisors (PLA) has announced the sale of the SpringHill Suites. PLA’s Bennett Webster facilitated the transaction, which consisted of a note sale and negotiated deed-in-lieu, resulting in a simultaneous title transfer to the new owner.
The Southfield sale represents PLA’s ninth Michigan hotel engagement in the past eight months.
“We are very pleased to continue to take part in the ongoing transformation of the Metro Detroit lodging market,” Webster said in a statement. “Given our extensive work in Michigan, our team has had unparalleled success in uncovering and identifying value for sellers, buyers and lenders of performing and distressed hotel assets in the Detroit area.”
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