ATLANTA – August 11, 2021 – Avison Young announced today it successfully represented a publicly traded hotel company in the sale of a Twenty Property Portfolio. This Marriott and Hilton-branded portfolio included properties covering 13 states nationwide and sold for $211,000,000. The buyer was a West Coast-based family office who was looking to add these premier select-service properties to its core assets.
The brokers involved in the sale were Andy Broad, Brad Sinclair and Michael Bernath.
The portfolio properties included the Hilton Garden Inn Dallas Allen – Allen, TX.; Hampton Inn & Suites Allen – Allen, TX.; Hilton Garden Inn El Paso Airport – El Paso, TX.; Residence Inn Fayetteville Cross Creek – Fayetteville, NC.; Hilton Garden Inn Montgomery East -Montgomery, AL.; Homewood Suites Montgomery East – Montgomery, AL.; SpringHill Suites Richmond Northwest – Henrico, VA.; Residence Inn Rogers – Rogers, AR.; Fairfield Inn & Suites Albany – Albany, GA.; Residence Inn Beaumont – Beaumont, TX.; Hampton Inn & Suites Ft Worth Burleson – Ft Worth, TX.; Hampton Inn & Suites Jackson – Jackson, TN.; Courtyard Johnson City – Johnson City, TN.; Courtyard Lakeland – Lakeland, FL.; Courtyard Phoenix West Avondale – Phoenix, AZ.; Residence Inn Greenville Spartanburg Airport – Greenville, SC.; Hilton Garden Inn Schaumburg – Schaumburg, IL.; SpringHill Suites Portland Vancouver – Vancouver, WA.; SpringHill Suites Andover – Andover, MA.; and the Homewood Suites Irving DFW Airport – Irving, TX.
Keith Thompson said, “These closings represent broad segment diversity from upscale and upper-midscale branded assets in non-urban core locations. The twenty property sale was accretive to both the seller and the buyer and represents the ever-changing landscape of the hotel transaction environment.”