Visions Hotels Acquires Amherst Hotel For $14.15M From Seller Rialto

A hotel located at 1340 Millersport Highway in Amherst has recently been sold in a transaction facilitated by Sean Banilivy, Bennett Webster, and Brent Clemens of Paramount Lodging Advisors. The property, with a total area of 234,487 square feet, was purchased by Minesh Patel, representing Visions Hotels, from Alex Diaz of Rialto. The sale price for this transaction was $14,150,000, resulting in a price per square foot of $60. The hotel comprises 356 keys, resulting in a price per key of $39,747.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $14,150,000
• Market: Amherst
• Buyer: Minesh Patel - Visions Hotels
• Seller: Alex Diaz - Rialto
• Brokers: Sean Banilivy, Bennett Webster & Brent Clemens - Paramount Lodging Advisors
• Square Footage: 234,487
• Price per Square Foot: $60
• Number of Keys: 356
• Price per Key: $39,747

This transaction showcases the collaboration between Minesh Patel of Visions Hotels, representing the buyer, and Alex Diaz of Rialto, representing the seller. Sean Banilivy, Bennett Webster, and Brent Clemens of Paramount Lodging Advisors acted as the brokers in this deal, facilitating a successful transaction for all parties involved.