LAS VEGAS — The Siegel Group Nevada, Inc., a real estate investment and management company, announced this week its acquisition of the former HomeTowne Studios Baton Rouge in an off-market transaction. This move 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 presence throughout Nevada, Arizona, Texas, New Mexico, Tennessee, Mississippi, Alabama, South Carolina, and Ohio.
The Siegel Group—which operates a commercial real estate portfolio consisting of apartments, extended-stay hotels, flexible-stay apartments, hotels, retail, office, and development projects—will be operating the extended-stay property under its Siegel Select brand which provides the option of either short-term daily stays or longer-term accommodations with the ability to add amenities such as housekeeping and linen service.
The property, which will be renamed Siegel Select Baton Rouge, is located off Interstate 12 and is nine miles from the downtown area. Built in 1998, the three-story exterior corridor hotel 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, including 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.
“In 2018 we introduced both our Siegel Suites and Siegel Select brands to the cities of Shreveport, Bossier City, and Alexandria,” said Stephen Siegel, president of The Siegel Group. “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.