Editorial|&utm_term=|Website-Editorial-NAT%28Website%29|" target="_blank">Auction.com, LLC, reported closing on 31 commercial assets in January with a total combined value of $134 million, and the firm says hotels will continue to rebound.

“Many private owners are looking to our technology-driven platform to sell both economy and full-service lodging assets,” said Rick Sharga, executive vice president of Auction.com. “While the hospitality sector inches toward pre-recession pricing as shown by Auction.com's fourth-quarter CRE Capital Markets Monitor, occupancy rates and room rates are expected to increase through 2018, which makes these assets a great fit for investors.”
A prominent closing indicative of this trend was the 70% occupied, 175-key Holiday Inn Mission Valley near San Diego, which is located a short distance from PETCO Park, the San Diego Zoo, Sea World and other attractions. The property was auctioned on Sept. 4, 2014 and closed on Jan. 21, 2015.

Other notable closings include the following:

• Decoverly II, a 95% occupied, 77,500-square-foot office located in Rockville, MD, was auctioned on Nov. 19, 2014. The sale closed on Jan. 22, 2015.
   

• Standard Life Building, a 93% occupied, mixed-use building with 41 multifamily units and three retail spaces located in Pittsburgh, was auctioned on Nov. 6, 2014. The sale closed on Jan. 2, 2015.
   

• A fully-occupied, 20,900-square-foot office building located in Santa Ana, CA, was auctioned on Dec. 17, 2014. The sale closed on Jan. 21, 2015.
   

• A fully-occupied, 32,000-square-foot retail property located in Lomita, CA, was auctioned Dec. 3, 2014.The sale closed on Jan. 8, 2015.

The Auction.com platform offers complete transparency to the large pool of bidders it attracts from around the world. In turn, the competition among qualified buyers ensures that sellers' assets are transacted at fair market value. Auction.com enables buyers and sellers to conduct
transactions in a more efficient manner than previously possible by leveraging internet technology to streamline what has traditionally been a cumbersome, complicated and paperwork-intense process.