Matthew Joseph And Jed Tarr Of Coastal Hospitality Group Acquire Hotel In Newland For $6.95M

The property asset involved in this transaction is a hotel located at 3085 Linville Falls Highway, Newland, NC. The sale was finalized for a total transaction amount of $6,950,000. This hotel consists of 72 keys and encompasses 25,000 square feet, resulting in a price per key of $96,527 and a price per square foot of $278.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $6,950,000
• Address: 3085 Linville Falls Highway
• Market: Newland, NC
• Keys: 72
• Square Footage: 25,000
• Price Per Key: $96,527
• Price Per Square Foot: $278
• Buyer: Matthew Joseph & Jed Tarr - Coastal Hospitality Group
• Seller: Mark Johnson

Matthew Joseph and Jed Tarr are the buyers representing the Coastal Hospitality Group, which is a vertically integrated real estate investment firm focusing on independent hotels and luxury RV experiences. This firm has been operational since 2012 and specializes in value creation and robust returns through efficient operations and asset management.