ATLANTA, Georgia, April 26, 2001 - Thompson
Calhoun Fair, LLC, an Atlanta-based hotel real estate firm, announced today
it advised NSM Buckhead Hotel, LLC in the disposition of the 92-unit Homewood
Suites Hotel located on Piedmont Road in Atlanta (Buckhead), Georgia for
a reported $12.8 million. The hotel opened in October 1997 and features
apartment-style suites with living room, separate bedroom and fully-equipped
kitchens. The property was sold to Apple Suites, Inc., a hotel REIT based
in Richmond, Virginia.
| Al Calhoun, a founding partner of the firm stated
�This was a strategic acquisition for Apple Suites due to their need to
have representation in the prestigious Buckhead sub-market of Atlanta.
Accordingly the sales price of over $139,000 per unit is near the top of
what we see in today�s market. We were able to so clearly and quickly match
the needs of the Buyer and Seller through our cooperative efforts with
S. Douglas Henkel of CB Richard Ellis� Virginia Beach, Virginia office.�
About Thompson Calhoun
Fair
Thompson Calhoun Fair was formed |
Al Calhoun
Al Calhoun has distinguished himself by selling over 160
hotels with over 24,000 rooms. These hotels included the 14-property, 3,237-room
Financial Security Assurance (FSA) portfolio that was sold to American
General Hospitality. Additionally, Mr. Calhoun served two years on
the board of directors of the Hotel Brokers of America (HMBA), including
serving as the treasurer in 1994. |
|
to focus on servicing the transaction needs of clients in the mid-tier
segment of the hotel industry, those ranging from $5 to $30 million in
asset value.
The three principals, H. Keith Thompson, Al Calhoun and Mark G. Fair,
each bring over 20 years experience in virtually all disciplines of hotel
real estate, and are widely regarded as the highest producing brokers in
the industry in the mid-tier segment. Founded in 2000, Thompson Calhoun
Fair is headquartered in Atlanta and is partnered with The Plasencia Group,
a nationwide hospitality transaction and consulting firm headquartered
in Tampa, Florida with regional offices in Atlanta, Washington, DC, Houston,
Little Rock and San Diego. |
