The Siegel Group Nevada Inc., a real estate investment and management company, has acquired two properties previously operated as the Motel 6 New Orleans and Studio 6 New Orleans. The two buildings will be converted into one property, Siegel Select New Orleans.
“We are excited to finally bring our Siegel brand to New Orleans,” said Chigozie Amadi, CFO, The Siegel Group. “Since first entering the Louisiana market back in 2018, we quickly expanded to four locations throughout the state and were eager to enter the New Orleans market. This acquisition presented the perfect opportunity for us to introduce our Siegel Select brand to this iconic city.”
This acquisition increases the number of Siegel Suites and Siegel Select properties throughout the U.S. to more than 60 and marks the brand’s fifth 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 property under its Siegel Select brand, which provides the option of either short-term daily stays or longer-term extended-stay accommodations with the ability to add amenities such as housekeeping and linen service.
Built between 1998 and 2000, the 248-unit property comprises two buildings totaling approximately 98,685 sq. ft. and is situated on 3.6 acres. The Siegel Group will be making a number of improvements which include 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 that are characteristic of the brand.