Suggestions
Sabena Arora-Akarte
Acadia Lodging Brokers & Advisors
Sabena Arora-Akarte is a highly experienced professional in the hospitality real estate industry with over 20 years of success closing deals and providing investment advisory services to domestic and international clients. Sabena has evaluated more than $50 billion in national and international hotel investments, transacting hotels totaling more than 12,000 rooms locally and abroad. She has worked with various aspects of hospitality investment transactions, such as full-service and economy portfolio, resorts, REITs, timeshare, mixed-use projects, and casinos. Not only is Sabena talented in negotiation and financing, but she is also a reputable advocate for change and education. Sabena is a Board Member and President Emeritus of the University of Chicago Booth School of Business Alumni New York Chapter, and she is a career advisor and supporter of Kenmare High School, an alternative school for women in Jersey City. Finally, Sabena is an active member of Asian American Hotel Owners Association and frequently speaks at the National Conferences.
Highlights
They say business and personal don’t mix. I disagree. So happy to see Lynette Montoya and Ahmer Naushad (CHAM) last week at NYU. I met her Lynette on one my first appraisal assignments 25 years ago and we still fast friends. Ahmer introduced me to my husband 22 years ago.
Acadia Lodging Brokers and Advisors is pleased to announce the $24 million, all - cash sale of the Meadowlands View Hotel. It was a pleasure working with Joseph Schwartz of Riker Danzig LLP on this transaction.
The Meadowlands View Hotel is a rare, unencumbered hotel asset in a high barrier to entry market, less than 5 miles from Midtown Manhattan. The 12- story, 250 room hotel had been closed since COVID and in need of renovations and repositioning. The sale transaction involved a complex dissolution of a partnership, subject to approvals of New Jersey Bankruptcy Court and New York Supreme Court. Acadia successfully drove a highly competitive bidding process that yielded multiple offers from a number of institutional investors. The asset was ultimately acquired by a hotel investor who plans to unlock significant value from a comprehensive redevelopment.
