Hotel AG Announces January and February Closings
February 24, 2016 7:06am
ATLANTA – February 24, 2016 – Hotel AG announced today the firm has closed 8 hotel transactions since January 1st. The transactions included 4 full service and 4 select service hotels located across five regions of the US. The transactions comprise of a full service Marriott located in a major west coast market, a full service beach front hotel in Daytona, a Holiday Inn in Louisiana, a La Quinta in Houston, a Marriott branded hotel in the northeast, a classic boutique hotel located in a northeast river town and two other select service hotels located in the southern crescent. Hotel AG brokers involved in these transactions were Brad Sinclair, Andy Broad, Chris Stark, Victor Kalyanji, Rick George, Michael Bernath and Collin Foran.
Also, in January the firm opened a Washington, DC and Philadelphia office as well as added a seasoned broker to the Chicago office led by Rick George. The firm has 223 current engagements on the market totaling $3 billion in market value with 69 hotels under sale agreement totaling $927 million in market value.
Michael Bernath, a senior partner with the firm, commented, “At Hotel AG we are very focused on this market cycle given where debt, swaps and spreads are and where we see the transaction market going for the next five years. Needless to say, we are concerned that it is late in the cycle and we as a firm are only taking engagements that can be consummated in today’s capital market environment.”
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hotel assets group
Hotel AG is a national hotel brokerage firm with primary offices in Atlanta, New York, Chicago and Los Angeles. The firm has been involved in 1 hotel transaction every 4 days since January 2013. The firm specializes in select service and full service hotels within the US and works with CMBS lenders, whole loan banks, REITs, public companies, investment funds and private investors. The firm has 17 national brokers and 21 partners and can be found online at www.hotelassetsgroup.com.
Contact: Wendy Blissett
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