30
Nov
Nevada-based real estate group acquires Albuquerque hotel
The Siegel Group Nevada Inc. is increasing its Albuquerque portfolio with a $4 million acquisition and it’s not stopping there.
The Nevada-based group closed on a Midtown hotel at 2500 University Boulevard on Nov. 13. The hotel was formerly operated under both Travelodge and Super 8.
Siegel said it typically scoops up underperforming “value-add assets substantially below replacement cost” like the Albuquerque complex — which is 244 units and 86,790 square feet.
Also included in the acquisition…
Source: Arizona Business Journal
