HomeNewsBusinessDowntown Augusta Ramada NOT for sale

Downtown Augusta Ramada NOT for sale



Previous reports that the downtown Ramada, located at 640 Broad St. is for sale, were false and premature, according to the property owner.

Property owner Bonnie Ruben said she had a conversation with someone about the struggles with the brand, and the group offered to help find an investor or partner that could help. Ruben has not put the property on the market for sale. Advertisements posted on Wednesday, Feb. 1, were removed immediately after news stories broke that the property was up for sale.

“I told them sure I would listen, but they have to be financially well qualified and share my vision for a revitalized downtown and for turning the Ramada into a cool hip property,” Ruben said. “Downtown is getting better but it’s a slow process.

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In addition to owning multiple properties downtown, Ruben is the owner of Ruben’s Department Store located at 914 Broad St., which has been open since 1898.

Local media reported that the property was for sale after Florida-based Mazili Hotel Group posted listing advertisements Wednesday on www.crexi.com a commercial real estate listing website. CREXI requires brokers to indicate that they have been engaged by the property owner prior to making a listing live to the public.

It is a violation of Georgia Real Estate Commission rules to advertise a property for sale without first having an agreement in writing according to Chapter 520-1-.09 section 3.

Ruben has owned the hotel since 1989 when she purchased it from First Union National Bank of Georgia.

According to the original news stories, no comments were received from the property owner or Mazili Hotel Group prior to running the story that the hotel was for sale on the same day the advertisement was made live.

“Someone out there spread the idea of a sale. I have no idea who or what their agenda might have been but I would like to be left alone to quietly operate my business,” Ruben said. “I would like to put an end to the speculation that turns into negative attacks. When and if something good happens that’s real you’ll be the first to know.

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