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Hotel AG, a Hotel Brokerage Company, Engaged to Sell the
Residence Inn/ Springhill Suites Development in
Myrtle Beach South Carolina

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Bay View II Resort - Myrtle Beach, South Carolina
255 Room - Oceanfront Residence Inn and Springhill Suites – Myrtle Beach SC

July 28, 2008 - Hotel AG, an Atlanta based hotel brokerage firm, has been engaged to sell the Residence Inn/ Springhill Suites development project in Myrtle Beach South Carolina.  The project is an oceanfront development parcel approved for an 18 story, beachfront, twin tower project housing a 255 room Residence Inn and Springhill Suites by Marriott.  The project is a .72 +/- acre parcel known as the Bay View II Resort that has township approval and all entitlements.  The site has been approved for an 18 story 120 room Residence Inn and a 135 room Springhill Suites.

Much could be written; however the best source is the Bay View Resort web site to see the quality of Bay View I and therefore see the value potential in Bay View II. www.bayviewresort.com
 


H. Keith Thompson
The Bay View Resort is a 2 phase development known as Bay View I and Bay View II. Bay View I is an existing 18 story, 188 unit oceanfront condominium project that was completed in March 2007.  As part of the Bay View Resort development, both projects required a fee deeded parking structure and therefore the existing 5 story, 590 space enclosed parking garage was completed in 2007 to serve as parking for both Bay View I and Bay View II. Bay View II Development owns 366 of the spaces and they are to be included in this sale. The development cost for the garage alone was approximately $5,700,000. 

Myrtle Beach needs no introduction and is known as one of the fastest growing leisure destinations in the United States. To point, Myrtle Beach is the second highest demand leisure market in the United States, second only to Orlando, Florida. Not only was Myrtle Beach named as America’s Best Family Beach by the Travel Channel, but Myrtle has also emerged as one of the top theatre, entertainment and country music destinations in the United States 

The beach front development is in the high demand area on the east side of Ocean Boulevard, just south of the intersection with 6th Avenue North in the city of Myrtle Beach. The parcel for Bay View Resort II is adjacent to the existing Bay View I Resort.

Hotel AG is pleased to offer this development opportunity for $21,000,000/ 82,000 land cost per room including the parking garage, all land entitlements, city approvals and franchise approvals, etc. 

For questions regarding the Bay View offering, please feel free to contact H. Keith Thompson at (770) 692-1605.

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Contact:

H. Keith Thompson
Hotel AG
235 Corporate Center Drive
Suite 100
Stockbridge, GA 30281
Email: kthompson@hotelassetsgroup.com
www.hotelassetsgroup.com
770-692-1605 – office
770-692-1608 - fax
 

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Also See: Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn Concord, North Carolina / March 2008
Hotel A.G., a Hotel Brokerage Company sells the 175-Room Doubletree Hotel located in Greensboro NC for $22,500,000 / February 2008
Hotel A.G., a Hotel Brokerage Company Sells the Day’s Inn Hotel Hickory, North Carolina / February 2008
Hotel A.G., a Hotel Brokerage Company Closes 2 Hilton Garden Inn Transactions / February 2008
Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn hotel Port Wentworth, Georgia / January 2008
Hotel A.G., a Hotel Brokerage Company, Closes 8 Hotel Transactions Within the Last Six Weeks / January 2008
Hotel A.G., a Hotel Brokerage Company Sells the Hampton Inn hotel Bowling Green, Kentucky / January 2008
Hotel A.G., a Hotel Brokerage Company Sells the Courtyard by Marriott hotel Harrisonburg, Virginia / December 2007
Hotel A.G., a Hotel Brokerage Company Sells the Courtyard by Marriott hotel Somerset, New Jersey / December 2007
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