The Siegel Group Makes Three-Property Acquisition
May 19, 2022
The Siegel Group, a real estate investment and management company, has acquired three extended-stay properties for just under $18.94 million.
With these acquisitions, the company has expanded its Siegel Select brand into the new markets of Oklahoma City, Houston and San Antonio, and increases the total number of Siegel Suites and Siegel Select properties throughout the U.S. to 59.
The company will be operating each property under its Siegel Select brand, which provides the option of either short-term daily stays or longer-term extended-stay accommodations. These newest locations will be renamed Siegel Select Oklahoma City, Siegel Select Houston and Siegel Select San Antonio.
The three-property portfolio, comprising 20 buildings spread out over 10.6 acres, totals 175,444 sq. ft. and is made up of 382 studio, one- and two-bedroom units all containing kitchenettes. Each property was previously operated under a different extended-stay brand. All properties are in good condition with minimal deferred maintenance issues. As part of the repositioning process, The Siegel Group will be making cosmetic room upgrades and facade and branding improvements to each of the properties.