- Laurel Real Estate sells Quality Inn in Ohio.
- Peachtree Group arranged financing.
- Ohio River Valley draws investor interest on industrial growth.
The deal reflects growing investor interest in the Ohio River Valley as industrial activity in the region picks up, Laurel said in a statement.
Laurel, represented the seller in the transaction. The firm, founded in 2002, is a boutique brokerage focused on hospitality assets and operates in Ohio and Florida.
The buyers acquired a hospitality asset in a market with demand from contractors, project teams, business travelers and workforce-related lodging segments, the statement said.
“Access to capital remains one of the most important factors in helping small business owners pursue growth opportunities,” said Dan Uhl, Peachtree vice president of originations, government lending. “Through our SBA lending platform, we support entrepreneurs in acquiring and growing businesses in markets with strong economic fundamentals. Continued growth across the Ohio River Valley reflects the long-term economic momentum creating opportunities for business owners.”
Atlanta-based Peachtree is led by Principal and CEO Greg Friedman, Principal and CFO Jatin Desai and Principal Mitul Patel.
The region includes industrial investment such as the Nucor steel mill under construction in Apple Grove, West Virginia. It also has manufacturing, infrastructure and energy-related projects across the Ohio River Valley. That activity is driving consistent lodging demand in the surrounding area.
Lauren D’Souza-Faze, vice president at Laurel, said hospitality performance is tied to the surrounding economy.
“The Ohio River Valley continues to attract investment and transactions like this reflect investor confidence in markets supported by long-term job creation, industrial growth and business activity,” she said.
Separately, DKN Hotels will manage the 122-key Courtyard by Marriott Toledo Rossford/Perrysburg in Rossford, Ohio.
