TACOMA, WA—Crystal Investment Property, amember of Hotel Brokers International, hascompleted the sale of the King Oscar Motel and ConferenceCenter in Tacoma. Crystal Investment Property, LLC, alicensed Washington State broker, exclusively represented theseller, in the sale. Joseph Kennedy, President ofCIP, worked closely with the Seller, HokoldDevelopment, to negotiate a mutually acceptable sale. Thefinal sale price was not discolsed

The Tacoma property closing marks the final sale of thefive-property, 713 room portfolio of the regionalchain of King Oscar hotels sold by Crystal Investment. Placed onthe market in August of 2012, the $23 millionportfolio attracted strong buyer interest and saw multiplecompetitive offers with several of the properties being sold with 2and 3 back-up offers in place waiting for the opportunity topurchase. With one exception, all properties have been branded bythe new owners and all continue to enjoy strong market presence dueto their exceptional locations and highway visibility.

The 221-key, King Oscar Motel with adjacent15,000 square foot conference center was built in two distinctsections in 1992 and 2000.Located at 8820 SW Hosmer Street, the hotel issited on over five fee-simple acres abutting the I-5 freeway justsouth of Metro Seattle with bold and highly visible signage. Thenew owner, an experienced hotelier who also purchased the KingOscar Motel in Lacey, WA, will be separating theinterior and exterior corridor portions of the property by puttingtwo complimentary brands on the property.