Closes a 15-Property Portfolio Sale
|ATLANTA – December 4, 2006 – Jones Lang LaSalle Hotels Select Service
Division announced today that they advised Focus Hospitality Services,
LLC in the disposition of a portfolio of 15 select service hotels.
The hotels were sold to a private partnership sponsored by Konover Hotel
Corporation for an undisclosed amount. Located in three prime locations
across the United States, the properties comprise 1,103 rooms and include
the following assets:
“We were delighted to achieve an excellent result for our client, Focus Hospitality Services, LLC, in terms of procuring a buyer that recognized the value of this exceptional select service hotel portfolio,” said Monty Levy, senior vice president for Jones Lang LaSalle Hotels’ Select Service Division.
Mark von Dwingelo, senior vice president for Jones Lang LaSalle Hotels’ Select Service Division, said “The Jones Lang LaSalle Hotels marketing team overcame several market perception hurdles including the number of properties located in smaller, Midwest markets, a mix of select-service, economy and independent affiliations and the fact that all the hotels are under 100 rooms in size. The team ran a competitive bid process that resulted in a number of attractive, qualified offers for one or more of the properties.”
“Monty, Mark and the entire Jones Lang LaSalle Hotels team helped us achieve our objective in the sale of this portfolio and provided us with invaluable guidance and advice throughout the entire process,” said Jerry Good, president for Focus Hospitality Services, LLC.
About Jones Lang LaSalle Hotels
Jones Lang LaSalle Hotels Select Service Division
Mark von Dwingelo
Phone: +1 404 995 8970
|Also See:||Jones Lang LaSalle Hotels Select Service Division Closes the Sale of 19 Hotel Transactions in December / January 2006|
|Jones Lang LaSalle Hotels Select Service Division Closes a Nine-Property Hampton Inn Portfolio / January 2006|
|Jones Lang LaSalle Hotels Select Service Division Closes 10 Hotel Transactions / October 2005|
|Jones Lang LaSalle Hotels Select Service Division Closes Seven Hotel Transactions / July 2005|