ATLANTA � August 6, 2010 � Hotel Assets Group, LLC (Hotel
AG), announced today that the firm negotiated the sale of two Hilton Garden
Inn hotels located in Louisiana. The 153-room Hilton Garden Inn LaFayette
Canjundome and the 134-room Hilton Garden Inn West Monroe were sold on
behalf of Jackie�s International. The portfolio sold to Apple REIT
Nine for an undisclosed amount.
Brad Sinclair, Vice President of Hotel AG stated, �Both hotels had
strong operating performance throughout the economic decline making the
sale possible for the owner and a good purchase for the buyer.�
�What made this transaction possible was the quality of the developer,
Jackie�s International, and the strength of the buyer,� remarked Keith
Thompson, principal of Hotel AG.
|
H. Keith Thompson
|
Brad Sinclair
|
The Hilton Garden Inn LaFayette is a six-story, interior corridor hotel
built in 2006 situated adjacent to the Cajundome and Conference Center.
The five-story Hilton Garden Inn West Monroe was built in 2007 and is located
across from Ike Hamilton Expo Center, the largest equestrian facility in
Louisiana. The Buyer plans to perform minor renovations on both hotels
and continue operating them as a Hilton Garden Inn.
About Hotel AG
Headquartered in Atlanta, Georgia with 16 national offices, Hotel AG
is a specialized brokerage firm offering hotel-specific real estate and
investment banking within the United States. The company conducts business
with REITs, public and private companies, institutional clients and individual
owner operators. Today Hotel AG has 139 hotels on the market in 34 states
valued at 1.2 billion. Hotel AG can be found online at www.hotelassetsgroup.com.
|