Wason Associates Negotiates the Sale of the Best Western in Nashua, NH
Posted on November 5th, 2011 by Earle Wason
Wason Associates Hospitality Real Estate Brokerage Group is pleased to announce the successful transaction of the Best Western Granite Inn located in Nashua, NH to buyer B and C Management Inc. from seller Karen Enterprises Inc. The transfer was finalized in August 2011 with a final selling price of $3.2 million.
The property consists of 104 interior-corridor rooms, an outdoor pool, and numerous recent renovations that include an upgraded lobby, breakfast area, and portico. This Best Western is ideal for business travelers, as it is located just 15 minutes from Manchester, NH and 45 minutes from Boston, MA and offers a 99 Restaurant on site.
B and C Management Inc. is owned by Dustin Bulley and Brent Cole, entrepreneurs who approached Wason Associates with a desire to grow their business. This is the second successful business transaction that Wason Associates has facilitated for B and C Management Inc.; the first transaction involved the transfer of the Super 8 Motel in Brattleboro, VT. The Best Western in Nashua is the team’s third hospitality property.
For one year prior to the transfer of the Best Western in Nashua, B and C Management Inc. controlled the operations and cash flow of the property. The title transfer was complex, requiring considerable negotiations by Wason Associates between the buyer, seller, and lenders. B and C Management Inc. offers a hands-on management approach to hotel operations, and with the help of the Wason Associates team, plans to continue to grow their company with a special emphasis on properties that are in need of better structure in their daily and long-term operational plans.
“We are very pleased by the completion of recent negotiations of the Best Western Granite Inn,” states Earle Wason, President of Wason Associates. “This was a complicated transaction that required extensive negotiations between all parties involved. However, the end result was a successful transfer and we look forward to continuing our relationship with B and C Management in the future.”
Our team welcomes you to the Wason Associates Hospitality Real Estate Brokerage Group web site. Here you will find relevant and up to date information on the market, review current transactions, learn about our services and most importantly review hotels offered for sale.