November 10, 2020
LAS VEGAS — The Siegel Group Nevada, Inc., a real estate investment and management company, announced today that it had acquired the former HomeTowne Studios Baton Rouge extended stay hotel in an off-market transaction. This acquisition increases the number of Siegel Suites® and Siegel Select® properties throughout the United States to 59 and marks the brand’s fourth location in the Louisiana market. These locations are in addition to the company’s significant presence throughout Nevada, Arizona, Texas, New Mexico, Tennessee, Mississippi, Alabama, South Carolina and Ohio.
The Siegel Group, which operates a sizable commercial real estate portfolio consisting of apartments, extended-stay hotels, flexible-stay apartments, hotels, retail, office, and development projects, will be operating the property under its successful Siegel Select® brand which provides the option of either short-term daily stays or longer term extended-stay accommodations with the ability to add amenities such as housekeeping and linen service. The property, which will be renamed Siegel Select Baton Rouge, is conveniently located off Interstate 12 and is just 9 miles from the downtown area. Built in 1998, the 3-story exterior corridor property totals approximately 47,900 square feet and is comprised of 130 units all containing full kitchenettes. The Siegel Group will be making a number of improvements which include adding new furniture and appliance packages to all rooms. Additionally, the exterior of the property will be painted along with other cosmetic upgrades including branding and signage that are characteristic of the brand.
Stephen Siegel, President of The Siegel Group stated: “In 2018 we introduced both our Siegel Suites and Siegel Select brands to the cities of Shreveport, Bossier City, and Alexandria. I am excited that we have brought our Siegel Select brand to Baton Rouge and look forward to continuing to expand throughout Louisiana.”
The Siegel Group is actively looking to acquire value-added properties in all asset classes throughout the United States and is able to move quickly and close transactions without any financing contingencies. If you have a property you would like to submit for consideration, please email email@example.com.
About The Siegel Group Nevada, Inc.
The Siegel Group, a real estate investment and management company headquartered in Las Vegas, Nevada and founded by Stephen Siegel, specializes in the acquisition, disposition and development of under-performing, value-added real estate and businesses with significant turn-around potential. The company’s extensive expertise in the areas of operations, management, finance, marketing, branding, leasing, renovation, design, entitlements, construction, and redevelopment enable The Siegel Group to elicit an operational turnaround on the assets it acquires. These assets include a variety of businesses and a commercial real estate portfolio comprised of multi-residential, flexible-stay apartment complexes, extended-stay hotels, boutique resorts, hotel-casinos, retail, office, restaurants and bars. For more information on The Siegel Group and its affiliates, visit the Company’s website at www.siegelcompanies.com.
The Siegel Group Nevada, Inc.
Senior Vice President
Michael Crandall, 702-947-8322