News: Front Section
Posted: March 21, 2017
Wason Associates finalize two Vermont hotel sales totaling $6.8 million
The Best Western Plus - Bennington, VTBennington, VT Wason Associates Hospitality Real Estate Brokerage Group has completed the closing and sale of two properties – The Best Western Plus, located in Bennington, and The Palmer House Resort in Manchester, VT.
The Best Western Plus is located near Bennington College and several ski resorts. The sale closed on July 19, 2016 and the property was acquired by S.K.B.W.V. Acquisition LLC for a final purchase price of $3.8 million. The property boasts 58 recently renovated rooms and a spacious owner/property manager residence.
Situated on 16-acres of land in Manchester, The Palmer House Resort, was purchased by Palmer House LLC and finalized on October 4, 2016 for a sales price of $3 million. The 50 guest room property is surrounded by the scenic Green Mountains and features a 9-hole golf course and trout pond.
“These two properties demonstrate great market potential, and we are pleased to have secured the successful transfer of both,” said Joe Cardillo, broker associate and Vermont licensed broker for Wason Associates. “With prime locations and proximity to year-round activities, the ideally-situated properties attract business and leisure travelers and prove to be mutually beneficial to all parties involved.”
Wason Associates is a New England-based brokerage firm comprised of professionals who bring a unique combination of financial, banking, and real estate expertise to each transaction. President, Earle Wason, CCIM has over 30 years of experience in the hospitality real estate market. Offering advisory services to both buyers and sellers, Wason Associates provides a strategic, client-centric approach to problem-solving, financial advising, and transaction execution.
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