Former DAR President Sells Historic Hotel St. Regis

Former DAR President Sells Historic Hotel St. Regis

Monday, 19 February 2018
Detroit Association of Realtors

By now you’ve heard about the big real estate deal that closed last week in Detroit – the sale of the historic Hotel St. Regis – to a group of Detroit investors. The group, Invictus, is led by former Wayne County CFO, Tony Saunders and 400 Monroe Associates’ Christos Moisides. Although the purchase price is not readily known, we do know that they are preparing to invest $6 million into upgrading the rooms, lobby, banquet facilities and restaurant over the next year. The Swanson family, of Swanson Funeral Homes, were the most recent owners and sellers of the hotel, which has seen its share of management and ownership changes over the past 10 years. As part of the deal, the Swansons will maintain a minority interest in the hotel, according to Crain’s Detroit Business.

What you may not know is that the buyers were represented by Detroit Association of Realtors (DAR) member – and last year’s President- Lolita Haley of Prime Financial Plus Realty. Her involvement in this deal comes as no surprise to anyone who knows the hard working, well-connected Haley. But the deal, itself, is significant because it represents a new era for the 100 + year old Realtor association – an era that she, herself, helped create as President. With Detroit being one of the hottest real estate markets in the country, there has never been a better time to invest here and this sale helps send a clear message: If you’re going to make real estate deals in Detroit – of ANY size- do it with DAR Realtors. Only DAR members are equipped and trained and connected enough to make the most complicated transactions happen in Detroit. And there has never been a better time to be a DAR Realtor.

For more information about hiring DAR Realtors to invest in Detroit real estate, or if you are a Realtor unhappy with your current association, call Sharon at 313-962-1313 to find out more about Detroit Association of Realtors.

And here is another deal that Detroit Association of Realtors members helped make possible:

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