Hiren Govind Acquires SureStay Plus By Best Western In Yucca Valley For $11M
56525 29 Palms Highway - SureStay Plus By Best Western
59,631 SF
Summary
The SureStay Plus By Best Western Yucca Valley Joshua Tree, a 94-room motel located at 56525 29 Palms Highway in Yucca Valley, was successfully sold for $11 million. The sale resulted in a price of about $117,021 per room. The buyer, identified as Hiren Govind, finalized the purchase with $9.95 million in fresh financing from G Bank. On the other hand, the seller, linked to Steven Koo, closed the transaction with the buyer.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $11,000,000
- Keys: 94
- Price Per Key: $117,021
- Square Footage: 59,631
- Price Per Square Foot: $184
- Address: 56525 29 Palms Highway, Yucca Valley
- Market: Yucca Valley
The deal's financing was facilitated by G Bank, providing $9.95 million for the transaction. Hiren Govind, representing the purchasing entity, successfully acquired the 94-room motel in Yucca Valley from Steven Koo's seller entity in this $11 million transaction.
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