 ATLANTA/Woodbury, Minn., January 3, 2012—Hunter Hotel
Advisors announced today that it closed out 2012 with the sale of the
150-room
Sheraton Woodbury located in the Twin Cities market. The firm
represented
the owner, Dougherty Funding, on the sale to Schulte Hospitality Group
for
approximately $14 million. The five-story hotel, built in 2008,
will
retain the Sheraton flag. Teague Hunter, President, led the
Hunter team
that represented the seller.Located at the confluence of I-94 and I-494 on the eastern side of the metro area, the Sheraton Woodbury is proximate to a number of large office complexes, including 3M corporate headquarters. Major amenities include an indoor swimming pool, fitness center, VIP floor and meeting space designed for small to mid-sized groups. “Full-service hotels like the Sheraton Woodbury have been largely off the market the past few years due to the poor economy and lack of available financing,” Hunter said. “However, after several years of improving results for the hotel industry, we are listing more full-service properties and expect to see a significant upturn in full-service hotel real estate transactions in 2013.”  Hunter is one of the nation's leading
providers of
specialty brokerage and advisory services to the hotel industry.
With
seven strategically-located offices, Hunter's team of seasoned
professionals and the industry's brightest stars have
leveraged their
combined expertise to successfully advise thousands of clients through
all
economic conditions. Additional information, including listings, is available at www.hunterhotels.net. |