Best Clif Hospitality LLC Acquires LaQuinta Inn & Suites In Clifton Park For $10.6M

The 104-room LaQuinta Inn & Suites located at 1749 US-9 in Clifton Park was sold for $10.6 million. This hotel represents a significant asset in the hospitality market, featuring key financial metrics such as a price per key (PPK) of $101,923. The transaction took place in a competitive environment, with the property receiving nearly a dozen written offers.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $10,600,000
• Buyer: Best Clif Hospitality LLC
• Seller: Tony Casale
• Brokers: Alexandre Duong & Kevin Laureno - Marcus & Millichap
• Lender: National Bank of Coxsackie
• Financing Amount: $7,420,000

Tony Casale, who constructed the LaQuinta Inn & Suites, sold the hotel as part of his exit from local businesses. The transaction was facilitated by brokers Alexandre Duong and Kevin Laureno of Marcus & Millichap, ensuring a smooth process amidst multiple offers.