AVON PARK, Florida—Guru Krupa, LLC purchased the 57-room Econo Lodge Sebring in Avon Park, Florida, for US$1,037,500.
external
|
The Econo Lodge Sebring in Avon Park, Florida, was sold by US Special Assets Group for just more than US$1 million. (Click to enlarge) |
Hotel Assets Group, LLC sold the property on behalf of US Bank Special Assets Group. The Highlands County Property Appraiser office in Florida confirmed the sale price.
The property, which sold for US$18,202 per room, is located approximately 80 miles south of Orlando. Guru Krupa will continue to operate the hotel as an Econo Lodge “for the foreseeable future,” according to a news release.
“This sale further represents the hotel real estate market beginning to stabilize and new acquisition loans being made,” said Keith Thompson, principal of Hotel Assets Group in a news release. “The transaction was closed with a new SBA loan that closed in a timely manner.”
A telephone listing for Guru Krupa could not be located. Hotel Assets Group and US Bank Special Assets Group did not return phone messages for comment last week.
The property has a taxable value of US$109,780, public records show.
Contact:
Hotel Assets Group: 770-692-1605