- Patel Capital acquired the 47-key Econo Lodge in Junction, Texas.
- HVS brokered the sale of the 1990-built asset.
- The property has been closed since 2024.
PATEL CAPITAL GROUP acquired the 47-key Econo Lodge Junction in Junction, Texas, from Dallas-based VSBA - REO Holdings. HVS Brokerage & Advisory brokered the sale.
The property has been closed since 2024, HVS said in a statement. It is near South Llano River State Park, City Park, Deer Horn Tree and Kimble County Historical Museum. The site is accessible from Interstate 10 in Junction and includes four onsite EV charging stations.
Houston-based Patel Capital is led by CEO and President Aman Patel. VSBA – REO Holdings LLC, a subsidiary of VelocitySBA, is led by President Charles Rho.
“Selling a closed hotel with no recent revenue is never easy, but the HVS team did an incredible job,” said Brent Ciurlino, Velocity SBA’s chief operating officer. “They created a highly competitive environment that brought in 10 offers in less than a month. Because of the marketplace they built, we were able to select a buyer who closed in under 30 days at a price that exceeded our initial expectations. Their execution was seamless.”
Matthew Omansky, HVS senior vice president, said the lodge was initially a challenging deal since it was closed and required capital investment.
“However, the fundamentals were in place,” he said. “We framed it correctly and backed it with local market data to present a solid pro forma. Once buyers understood the path forward, the response was strong—ten offers in 29 days—and through that competition, we were able to drive pricing above our initial guidance.”
The HVS team included Eric Guerrero, Andrew Frosch, Matthew Omansky, Kyle Peterk, Fadi Rawashdeh and Daneen Godinet.
Raj Patel recently acquired the 3-story, 66-key Super 8 in Gardiner, Montana, from Eric Sheckleton. Marcus & Millichap brokered the sale.
