LAS VEGAS–(BUSINESS WIRE)–The Siegel Group Nevada, Inc., a real estate investment and management company, announced today that it had acquired two properties previously operated as the Motel 6 New Orleans and Studio 6 New Orleans. This acquisition increases the number of Siegel Suites® (www.siegelsuites.com) and Siegel Select® (www.siegelselect.com) properties throughout the United States to over 60 and marks the brand’s fifth 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 is conveniently located off Interstate 10 will be renamed Siegel Select New Orleans. Built between 1998 and 2000, the 248-unit property is comprised of two buildings totaling approximately 98,685 square feet and is situated on 3.60 acres. 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.
Chigozie Amadi, Chief Financial Officer of The Siegel Group stated: “We are excited to finally bring our Siegel brand to New Orleans. Since first entering the Louisiana market back in 2018, we quickly expanded to four locations throughout the state and were eager to enter the New Orleans market. This acquisition presented the perfect opportunity for us to introduce our Siegel Select brand to this iconic city.”
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 properties@siegelcompanies.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.
Contacts
The Siegel Group Nevada, Inc.
Senior Vice President
Michael Crandall, 702-947-8322