Avison Young Hospitality Group Announces Summer 2017 Closings
September 14, 2017 1:26pm
ATLANTA – September 14, 2017 – The Avison Young Hospitality Group announced today that it has brokered 25 hotels this summer that were located throughout the U.S. from New York City to San Francisco. Full-service hotels, select-service hotels, historic hotels, extended-stay hotels and all-suite hotels were all included in these sales. Pricing of the hotels ranged from $46 million to sub-$10 million and room counts ranged from 400-room full-service to 100-room select-service assets.
The brokers involved in these closings spanned the entire practice group.
“Today we have 231 hotels on the market priced from sub-$10 million to $900 million, including 78 single engagements,” said H. Keith Thompson, principal at Avison Young. “At any given time, we only display a few offerings on our website and they are typically single off deals and lender controlled sales. The majority of our offerings are by private invitation only. Looking ahead, we see a significant market curve and anticipate an aggressive buying market, in which we expect to close as many transactions as possible before the market shifts.”
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Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,400 real estate professionals in 80 offices providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.
Contact: Mike Rieman
Avison Young Hospitality Group is a national hotel practice group supported by 69 North American office locations and 2300 people. The firm currently has 231 hotels on the market totaling $3.6 billion in market value and for the past five years, the firm has been involved in one hotel transaction every five days. Avison Young Hospitality Group specializes in select service and full service hotels within the U.S. and works with CMBS lenders, whole loan banks, REITs, public companies, investment funds and private investors. The hospitality group can be found at www.avisonyoung.com under the “services” tab.
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