According to Michael Shah, principal and CEO of DelShah Capital, LLC, the $4 million sale of the 78-room Hampton Inn Hotel by Hilton, at 877 Interchange Rd. to Omega Hospitality, LP has been completed. The purchase of the foreclosed property and its subsequent profitable sale is an example of DelShah's expertise in identifying distressed assets, completing foreclosure litigation, and then repositioning the asset towards a profitable exit.
"While this asset was outside of our geographic sandbox, the mortgage was sold to us by one of our very good bank relationships, and when they offered to finance our note purchase, it became impossible to say no. We knew the intrinsic value was there, and we were skilled enough in the foreclosure process to know we could get to the asset in a fairly short period of time," said Shah. "There are many other great opportunities that we are researching and analyzing at this time."
Located about 2 hours from Philadelphia, the Hampton Inn has an indoor pool, whirlpool and cardio-fitness center. The surrounding area has many natural sites and recreational areas that draw families and vacationers, such as the Poconos and Jim Thorpe historical attractions, as well as being located at close proximity to the highway for business travel.
DelShah Capital, LLC is a full-service real estate acquisition, development and management company that owns and operates multifamily and commercial properties in New York City. The company has expertise in identifying, financing, and managing real estate investments on behalf of institutional clients and for its own portfolio. DelShah specializes in the purchase and foreclosure of non-performing commercial mortgages.
The firm integrates rigorous financial and legal structuring with professional real estate asset management. This combination of disciplines makes DelShah Capital a unique operating partner. For more information on DelShah's capabilities please contact, 212-213-8777 or visit www.delshah.com. Tags: