Integra-San Diego recently valued the going concern interest of a hotel resort property, consisting of 70,833 SF gross leaseable area on 5.75 acres. The property has 146 rooms, was built in 1981 and renovated in 2010. The purpose of the appraisal was for portfolio management.
In the first 6 months of 2016, IRR-San Diego’s Hospitality Valuation Group has completed 40 hospitality appraisal assignments, ranging from small, independently owned bed & breakfast motels, to full service, major chain luxury hotels. These 40 appraisal assignments have a combined real estate value of over $282 million, and a combined gross building area of 1.7 million square feet. The hotels were located throughout San Diego, Orange and Los Angeles counties, and other California locations, including Fresno, Santa Barbara and Santa Cruz. IRR-San Diego’s principal and Sr. Managing Director, Jeff Greenwald, MAI, SRA, ASA, AI-GRS, FRICS, is also licensed in Washington, Oregon, Arizona, Texas, New Mexico, and Georgia. Several of the 40 appraisal assignments completed were located in those states.
For further information on IRR-San Diego’s Hospitality Valuation Group or a copy of their brochure, please email firstname.lastname@example.org.
Integra Realty Resources – San Diego has just completed the appraisal of 20 properties for estate tax purposes with a combined real estate value of over $100,000,000. The properties, located in and around San Diego county consisted of 6 multi-tenant retail properties, 4 industrial properties and 1 industrial business park, 2 multi-tenant office properties, 1 medical office, 3 multi-family properties, and 2 hotel properties, with a combined square footage of over 500,000 SF.
Office Property – 6,500+ SF Rentable Area
73,000 SF Rentable Area on 4.30 Acres
66,416 SF Rentable Area – Part of 20 Property Trust Portfolio
IRR-San Diego recently valued market value as is of the total assets of the business (MVTAB). This was a fee simple/leasehold interest, a going concern interest, specifically excluding monetary assets of cash and inventory of a 395-room full service hotel, with a site area of 10.41 acres, located adjacent to a major regional international airport. The appraisal was done for internal valuation purposes prior to a potential sale.
Integra San Diego’s hospitality practice group has completed a commercial appraisal of a hotel property located in Los Angeles. The property consists of a non-franchised hotel containing 137 rooms. The building, constructed in 1913, is 12 stories and is located in the Downtown core area of Los Angeles. The site area is 0.17 acres. The purpose of this commercial valuation was for internal purposes.
If you have any hotel valuation questions or needs, please contact us at 858-259-4900 or email@example.com. Also, for more information on our specialty practice group, please click here.
IRR San Diego’s hospitality practice group has completed a commercial appraisal of a hotel property located in Morro Bay in San Luis Obispo County. The property consists of a non-franchised, limited service hotel property containing 23 rooms. The three-story building was constructed in 1980 and is approximately 12,000 square feet in size. The building is located on a 0.48 acre site. The purpose of this commercial valuation was for loan underwriting purposes for a lender.
IRR San Diego is the leading hotel appraisal group in the region, valuing over $2 billion of hotel and motel properties across the United States. If you are in need of hotel valuation or consulting services, please contact us today at 858-259-4900 or firstname.lastname@example.org.
We are pleased to present copies of our recently released IRR Viewpoint 2015, Integra Realty Resources’ signature publication. In this annual edition, we provide market value trends for investment-grade real estate across the San Diego market. Read More
IRR San Diego’s Hospitality Practice Group has completed a commercial appraisal of a hotel property located in the community of Pacific Beach in San Diego. The property consists of a non-franchised, limited service hotel that has 24 rooms. The improvements were constructed in 1952, and each room includes a fully equipped kitchens. The subject site area is 0.36 acres. The purpose of this commercial valuation was for loan underwriting purposes for a lender.
If you have any hotel valuation questions or needs, please contact us today at 858.259.4900 or email@example.com. Also, please be sure to check out our Hospitality page for more information on our hotel appraisal practice.
Integra San Diego has completed a commercial appraisal of a hotel property located in Escondido in San Diego County. The property is an existing limited-service hotel that contains almost 70 rooms. The improvements were constructed in 1985 and are situated on 1.15 acres of land. The purpose of this commercial valuation was for loan underwriting purposes for a lender.
If you have any hotel valuation questions or needs, please contact us today at 858-259-4900 or at firstname.lastname@example.org. Also, please be sure to check out our hospitality appraisal page for more information on our specialty practice.
There are dozens and dozens of designations related to the real estate field. In fact, after a quick search on the National Association of Realtor’s website, we found over 20 designations listed for a variety of specialties. The real estate appraisal field has several designations, as well; however, it can be confusing to understand what these designations mean and (more importantly) how can they help you decide which appraiser to choose.
Integra Realty Resources (IRR), North America’s largest independent commercial real estate market research, valuation, and counseling firm, has been recognized for surpassing a major milestone in the commercial real estate valuation and appraisal industry. From January 2009 to date, IRR’s San Diego, CA hospitality specialty practice group has valued hotel and lodging properties with a combined appraised value exceeding $2 billion.
IRR San Diego attended Bisnow’s Hospitality Summit, where developers, investors, and even Padres management shared their views on the San Diego Hotel market. Here is a recap of the event.
The San Diego tourism market is climbing quickly out of the recession, with occupancy rates above 78% according to Joe Terzi of the San Diego Tourism Authority. With such a strong recovery and a forecast of ever-improving market conditions, hotel owners are holding on to their investments, which is leading to a lack of inventory. Like other property types where money is chasing few deals, it is a difficult time to buy hotels in San Diego (despite the low cost of capital), which is leading some to believe that San Diego hotels may reach the $1 million per room threshold.
Another trend for hotel properties is to buy in Downtown San Diego, one of the hotter submarkets in the area (which is a similar trend for apartment developers and investors that spoke at the last Bisnow summit). While the panelists agree that it is difficult to build downtown (see below for challenges), this consequently creates no oversupply, but rather opportunities for infill projects. Read More
Integra Realty Resources has completed two commercial real estate appraisals of hotel properties located in Central California.
The first is a non-franchised, limited service hotel located in Modesto, Stanislaus County. The property contains 40 roomsl an outdoor swimming pool; and a two-bedroom, one-bathroom manager’s apartment. The building was built in 1964 and is situated on a 0.68 acre lot. The purpose of this hotel valuation was for loan underwriting purposes for a lender.
The other hotel recently appraised is an existing 70-room, interior loaded, extended stay flagged hotel in Bakersfield, Kern County. The property, constructed in 2009, has approximately 34,000 square feet of gross building area and is located on a 1.81 acre site. Special features for this flagged hotel include a pool and spa, guest laundry, vending machines, and a manager’s apartment. The purpose of this hotel valuation was also for loan underwriting purposes for a lender.
If you have any questions about hospitality valuations in California, or are in need of a commercial real estate appraisal of a hotel or motel appraisal, please contact us today at 858-259-4900 or email@example.com. Also, please be sure to check out our hospitality page for more information on our specialty practice as well as a sample of previous assignments.
Whether a divorce is friendly or fierce, a divorce usually requires the services of a professional appraiser. In most cases two separate appraisals are completed – one for each side. Many times there may even be need for the use of a third appraisal.
If two appraisals come in with significantly different amounts, the judge may then order a third independent appraisal to help settle the matter. The appraiser’s role in a divorce is to help assess value for the division of property.
Your attorney will usually advise you of this anytime there is property involved. While the cost of your divorce seems to be adding up quick enough to make your head spin, you simply can’t skimp on obtaining a professional appraisal. It may seem like a formality, yet you should realize what you end up getting out of the split once the dust settles is based a great deal on the report from a professional appraiser.
In some cases the divorcing couple or their attorneys may agree to use just one appraiser. This works for couples who may already have an idea of what the value probably is and do not intend to be out for blood when it comes to splitting property and assets.
A real estate appraiser plays a significant role in nearly every situation that involves real estate. It can be a tax appeal, purchase, estate settlement, divorce, bankruptcy, and more. The role of the appraiser can never be downplayed, since they can be the difference between a successful or unsuccessful transaction. Therefore it is vital that that you hire a ‘qualified’ appraiser for whatever the need may be. There are a lot of things you should consider before hiring an appraiser, and below is a list of the ‘Top 10 Questions You Should Ask before Hiring an Appraiser’:
IRR San Diego has completed a commercial appraisal of a proposed hotel property located in San Diego. The property is a 0.63 acre site currently developed with an limited-service hotel, but the owners plan to redevelop the property as a multi-occupancy structure with a hotel, residential condominiums, retail, and a restaurant. The project is expected to be delivered in approximately two years. The purpose of this commercial valuation was for loan underwriting purposes for a lender.
IRR San Diego has completed a commercial appraisal of a hotel property located in Chula Vista in San Diego County. The property consists of a bed & breakfast constructed in the 1930’s and renovated in the early 2000’s. The gross building area is approximately 7,720 square feet and is situated on a 0.21 acre site. The purpose of this commercial valuation was for loan underwriting purposes for a lender.
As the leading hotel property appraiser, Integra San Diego specializes in the valuation of all hospitality types throughout San Diego County. If you have any questions about the hotel valuation process or are in need of a hotel appraiser, please visit our hospitality page for more information or contact us today.