Kent Hricko and Colin Colby sold the Country Inn for the second time in Sept. 2018. The seller was able to realize a 250% ROI on the deal. Kent and Colin helped source the debt, third-party management and negotiated a favorable PIP for the buyers, who had never owned a hotel previously.
Kent Hricko and Colin Colby sold the Holiday Inn Palatka in Sept. 2016. The buyers were required to assume a CMBS loan and received the Formula Blue PIP. The buyers completely renovated the hotel and sold it back to the previous owner for a significant profit in January 2019.
Colin Colby & Kent Hricko were able to overcome historically poor cash flow at the property by negotiating favorable seller financing. By giving good terms to the buyer the seller guaranteed they would not be taking the property back, and the buyer had time to get the expenses under control before needing to refinance.