Greens analyzed an under performing property adjacent to an existing investment. The property was on the verge of receivership, and an ideal candidate for Greens approach to value creation. We acquired control of the asset in a 7 day escrow, and proceeded to reposition the asset.
During a gut-job six month renovation, we invested $1,200,000 ($18,750/key) into the asset, added 4 guest rooms, and reopened the hotel as the Comfort Inn St. George North under franchise from Choice Hotels International. Within 9 months of opening, we optimized operations, and exited the investment in a tax efficient manner.