Bird Dog Equity Partners Acquires Holiday Inn Express in Cedar Rapids for $4.45 Million
Matthew Patane | The Gazette, Cedar Rapids, Iowa | November 17, 2017 2:00pm
Nov. 16--CEDAR RAPIDS -- A hotel in southwest Cedar Rapids has been sold, marking the latest one acquired on the hotel strip along 33rd Avenue SW.
Sioux Falls, S.D.-based Bird Dog Equity Partners bought the Holiday Inn Express at 3320 Southgate Court SW. Bird Dog plans to renovate the 83-room hotel, said CBRE Hotels, which brokered the sale.
The three-story Holiday Inn was built in 1997. Bird Dog acquired the hotel for $4.45 million, according to city assessor records.
It's also the second hotel along 33rd Avenue SW to be sold this year. In March, a Virginia-based company bought the Clarion Hotel and Convention Center, 525 33rd Ave. SW, and announced renovation plans.
CBRE Hotels said it has helped sell six hotels in Iowa during the past 12 months, including another Cedar Rapids Holiday Inn Express, 1230 Collins Rd. NE. Coralville-based Hawkeye Hotels acquired that hotel in January for $3 million.
l Comments: (319) 398-8366; email@example.com
Like what you're reading?
We make it easy to stay connected:
Subscribe to our email newsletters
Download our free apps
Your next Business articles
Koch Brothers said to back Des Moines-he ...
Younkers parent company to shut 40 store ...
Cedar Rapids Holiday Inn sold