Ronn Thomas from Cushman & Wakefield NorthMarq was retained by Keziah Properties to sell the 58 room limited service Lexington Inn & Suites. The limited service hotel was in need of renovations.
The hotel was located in a seasonal market in a 3rd tier suburb on the fringe of the Twin Cities metro area.
Buyers were out of the country during the due diligence period and were unavailable to offer feedback.
Found potential buyers by aggressively marketing the property throughout the upper Midwest.
Sold the property for $2.4M, approximately 3 times gross revenue.
“Ronn is extremely pleasant and level headed yet effectively aggressive when finding buyers. It has been a pleasure working with him.”
George SheetsOwner of Keziah Properties, LLC (2015)
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Cushman & Wakefield Minneapolis-St. Paul
3500 W. American Blvd, Suite 200
Bloomington, MN 55431
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