NATIONAL REPORT—Hunter Hotel Advisors, HREC and Crystal Investment Property have all helped close on hotel sales. Here’s a closer look at the recent deals across the U.S.:
Hunter Hotel Advisors Arranges Sale of Hilton Garden Inn, Panama City, FL
Hunter Hotel Advisors has arranged the sale of the Hilton Garden Inn in Panama City, FL, to Visioners Hospitality LLC. The hotel was damaged after Hurricane Michael in 2018, but owner Panama City Hospitality Group LLC brought the property back to life. As one of the first hotels to be fully back online, it is poised to take advantage of the area demand for rooms and foresees an increase in occupancy after the devastation.
Hunter Hotel Advisors Represents Sale of Courtyard by Marriott in Chapel Hill, NC
Hunter Hotel Advisors has successfully represented an institutional seller in the off-market sale of the Courtyard by Marriott in Chapel Hill, NC. Atma Hotel Group Inc, a vertically integrated firm that now has six properties in the Chapel Hill market, was highly motivated to strengthen their portfolio with this market leading asset. Closing price was not disclosed.
HREC Arranges Sale of Hampton Inn Rochester Irondequoit
HREC Investment Advisors has arranged the sale of the 77-room Hampton Inn Rochester Irondequoit located in Rochester, NY. A regional owner/operator has acquired the property. HREC Investment Advisors exclusively represented the seller during the transaction. The seller is an entrepreneurial real estate company that builds and owns various properties across the real estate spectrum. Rochester is located on the southern shore of Lake Ontario and is New York State’s third most populated city behind New York City and Buffalo.
Crystal Investment Property Brokers Sale of Washington Motel
Crystal Investment Property LLC (CIP) has brokered the sale of the All View Motel in Port Angeles, WA. CIP, a licensed Washington brokerage, represented the seller in the sale. Joseph P. Kennedy, president of CIP, worked closely with the seller and buyer, as well as the parties’ other professionals, to negotiate a mutually acceptable sale. The final sale price is confidential. The All View Motel is a 20-key, single-story economy motel, close to downtown, the ferry port and Olympic National Park.