For immediate release
[Sandpoint, Idaho – 3/29/2021]
Crystal Investment Property Announces the Sale of LaQuinta Inn & Suites Sandpoint
Representing the Seller of this Midscale Franchise Hotel in Premier Resort Destination
Crystal Investment Property, LLC, (“CIP”) a member of Hotel Brokers International, announced the successful sale of the La Quinta Inn in Sandpoint, Idaho. CIP, a licensed Idaho brokerage, represented the Seller in the sale. Joseph P. Kennedy, President of CIP, and the CIP Team worked closely with the Seller and Buyer, as well as the parties’ other professionals, to negotiate a mutually acceptable sale. The final sale price is confidential.
The La Quinta Inn & Suites Sandpoint is a 68 key select service franchised midscale hotel. The property features a lobby with a fireplace, gift shop, fitness center, indoor spa, and seasonal outdoor swimming pool. The guest room mix includes a selection of Queen and King rooms, kitchenette and spa suites, family-friendly rooms, and ADA rooms. Amenities include an in-room mini-refrigerator, microwave, television, and high-speed internet (WiFi). The hotel consists of 3 buildings and a leased restaurant on over 1.16 acres in a desirable central location. Located in the heart of downtown Sandpoint, visitors are within walking distance to many unique shops, art galleries, great restaurants, and scenic Lake Pend Oreille.
Joseph P. Kennedy, President of CIP said, “We’re very happy to have helped the Seller and Buyer achieve a mutually beneficial transaction for this terrific resort area property. Our patience helped the Seller realize their disposition goals and Buyer complete their 1031 exchange. We are excited for the Seller’s and Buyer’s future endeavors!”
About Crystal Investment Property, LLC
Crystal Investment Property, a premier hospitality investment advisory and brokerage company located in the Pacific Northwest, maintains the most cutting-edge technological, online, and social media presence as well as a full range of traditional and web-based marketing reaching local, regional, national, and international clientele. The firm’s core services of hospitality asset acquisition/disposition are supported by innovative and creative solutions to maintain position as the most active and successful hotel broker in the region. Crystal Investment Property represents the full spectrum of hospitality real estate owners and their experience covers all hospitality asset types, including full-service hotels, boutique hotels, select-service hotels, limited-service hotels, as well as development projects, and leasehold transactions. Crystal Investment Property may be accessed online at crystalip.com.
About Hotel Brokers International
Founded in 1959, Hotel Brokers International members lead the industry in hotel real estate sales. HBI hotel brokerage specialists have successfully negotiated more than 10,000 hotel real estate transactions and consistently account for the largest share of all select-service and economy hotel sales in the United States. The organization’s database currently comprises more than 100 property listings and the HBI website attracts site visitors from around the world. HBI is the founder and administrator of the Certified Hotel Broker program – the industry’s only professional designation for Hotel Brokers. In addition to hospitality real estate advisory services, HBI offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals, and investment services. For more information about HBI’s hotel listings or to become a broker or affiliate member, visit hbihotels.com.
Teri G. Beck, Marketing Director
Crystal Investment Property, LLC
Glenda J. Webb, Executive Director
Hotel Brokers International
Kansas City, Missouri