News for the Hospitality Executive |
Hotel AG Brokers Sale of Nashville Area Limited-Service Hotel
ATLANTA
– August 1, 2011 – Hotel Assets Group, LLC (Hotel AG), announced today
they
closed the 122-room Red Roof Inn in Brentwood, Tennessee on behalf of
R-Roof
VI, LLC. The property sold to NNP Cool Springs, LLC for an
undisclosed
amount.
"On this transaction we were able to work with a locally-based hotel ownership group that was able to secure financing with a local lender through the SBA program," stated Victor Kalyanji, vice president and partner of the firm. The three-story interior corridor hotel is located approximately 15 miles from Nashville in the affluent Brentwood/Cool Springs area. The buyer is planning an extensive renovation program over the next 12 months and will keep the property a Red Roof Inn. About Hotel AG Headquartered in Atlanta, Georgia with 19 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 129 hotels on the market in 33 states valued at $1.3 billion. Hotel AG can be found online at www.hotelassetsgroup.com. |
Contact:
Wendy
Blissett, CCIM Hotel Assets Group, LLC 678-596-9669 direct 678-261-6514 facsimile [email protected] www.hotelassetsgroup.com |