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Brokers USA Positions Itself as Acknowledged Leader in San Francisco...

Results, pure and simple. Getting results and having a reputation for getting results is all it takes to be successful in hotel brokerage, or so says San Francisco-based Brokers USA.

Getting results like the $12 million sale of the Days Inn Marina in Norfolk, VA, for Marina Motor Inn LLC and an additional 100 hotel closings the company has brokered in California alone are what the firm is known for.

Each transaction presented Brokers USA with different challenges, but it created a marketing strategy that worked, and it closed the deals quickly.

For example, the Days Inn Marina Beachfront, although well-located on the tip of Willoughby Spit, presented a number of challenges because it was on leased land, had several subleases, business had been disrupted by a recent hurricane, and the property was in need of major capital investments due to its age.

In addition, the historical financial performance did not justify the sort of price the owners thought should be obtained, given the inherent value of the location. So Brokers USA needed to find that slice of the buyer market that not only did not look to historical income-stream to develop its valuations, but could also look beyond the property's physical constraints, a major developer with vision, if you will.

After taking on the job, the brokerage firm prepared an extensive marketing campaign, negotiated with several parties and delivered a purchase contract for over twice the price of the highest offer Marina Motor Inn had originally received. The deal closed six months later for a price exceeding $12 million.

It was critical that Brokers USA find a strong, capable purchaser which could obtain financing and see the project through.

"As a result, our marketing was geared toward large companies and, more specifically, public companies, because sellers wanted to be aligned with a purchaser and future owner that would work with them on larger issues involved in the proposed development," says Gregory Garver, vice president of Brokers USA.

After conducting an initial call for offers, which resulted in several bids, Brokers USA narrowed the field of qualified buyers to two and proceeded from there. Five months after initiating the marketing process, Brokers USA sold the properties to The Spectrum at Willoughby Harbor LLC. Of course these kinds of results don't just happen; you need the experience and understanding to make them happen. Multiple factors came into play: franchise, financing, environmental, engineering, feasibility, and the potential for renovation and repositioning of the property within the market. Hotel brokerage is a specialized field within commercial real estate because hotels have intrinsic worth as both real estate and as operating businesses. Extensive knowledge is required to structure these complex transactions. Ultimately the transaction was classified as a land sale. An excerpt from the Virginia Pilot, full article is available here ng packages that provide in-depth, accurate information," he adds. "Time is at a premium for buyer and seller. Effectively catering to this need for succinct, pinpoint detail is our specialty." /PPbr //PPbr /Because of its wide exposure to potential buyers, Brokers USA, a href="http://www.gregorygarver.com"linkClick( this.href );">http://www.gregorygarver.com, averages multiple offers per property. And its closing rate on property sales is over 90%. "Brokers USA has an exceptionally high rate of closing on the hotels listed with the firm," Garver says. "We screen buyers very thoroughly so that every deal that goes under contract closes."

With this kind of track record, Brokers USA sees no need to change the game plan. As a matter of fact, Garver, adds, "Five years from now, Brokers USA will be the acknowledged leader in hotel brokerage in San Francisco for upper and midmarket properties based on the results we achieve."

About Brokers USA:

Brokers USA established its first office in 1974 specializing in hospitality brokerage. Since then they have expanded their services to cover all major product types, including both commercial and residential, with a focus on San Francisco Bay Area Real Estate. Brokers USA has been brokering deals across the country for over 30 years with over 100 hotel sales to date in California alone.

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