70-room La Quinta Hotel Transacted in Elkton, Maryland
ELKTON, MD – August 30, 2012 — Excel Group announced today that the firm has sold the La Quinta in Elkton, Maryland for $2.95 million. The firm had originally acquired the loan for the hotel in June, 2011 for $2 million. The disposition represents a 95% ROI or $950,000 value creation in a little more than one year.
The property is located just off the I-95 near highway 279, proximate to Chesapeake Bay, Baltimore, and Philadelphia and is near numerous sports and entertainment facilities and within four miles of Astra Zeneca, JP Morgan, as well as proximate to Honeywell, Siemens, Avon and Amazon.com offices.