real estate
From Density to Distancing
H. Keith Thompson | May 12, 2020
By H. Keith Thompson, Principal Avison Young Hospitality Group Ten short weeks ago, business was about packing in as much density with as many people as possible. From hotels, conventions, sports venues, air travel, resorts, retail, and office buildings - down to going to a Costco. Now, ten weeks later, it is all about staying separate and distancing yourself from other people. How can this be possible? Because COVID-19 (‘CV”) has caused a shift in the paradigm of personal life and commercial life that no one saw coming. Ten weeks in, we now judge every face-to-face interaction differently than we used to. Behind closed doors, al...
Hampton Inn Mobile CLOSED on RealINSIGHT Marketplace
RealINSIGHT Marketplace | March 3, 2020
RealINSIGHT Marketplace and Berkadia Hotels & Hospitality are pleased to announce the closing of the Hampton Inn in Mobile, Alabama at 104% of Reserve. Located along Interstate 10, the 80-room limited-service hotel was built in 1994. Due for a renovation, Berkadia and RealINSIGHT Marketplace marketed the property with a focus on maximizing profits and closing within a tight timeframe. The Broker and the Seller selected RealINSIGHT Marketplace to assist in developing a sales strategy which provided investors the confidence to enter into a non-contingent purchase agreement with a 10% hard deposit on day one. By ensuring investors had ...
Avison Young Announces January and February Closings
Avison Young | February 26, 2020
ATLANTA – February 26, 2020 – Avison Young Hospitality Group announced that the firm has closed 20 hotel transactions during January and February. The property closings ranged from Hilton select service hotels to various other brands located throughout the northeast, upper Midwest, south central and southeast. Most all the hotels are under 200 rooms each and represent the ever changing hospitality investment market. The sellers represented in these transactions range from US investment companies, management companies and overseas investors. The buyers were mostly private investment companies and private family office money with the str...
Avison Young Announces 2020 Closings
Avison Young | February 10, 2020
ATLANTA – February 10, 2020 – Avison Young Hospitality Group announced that the firm closed fourteen hotel transactions during January and the first week of February. The property closings ranged from Hilton select service hotels to various other brands and were located from the northeast US through the south and central US markets. The firm expects to close nine other transactions over the next 20 days located from Chicago to Raleigh....
Pebblebrook to Sell InterContinental Buckhead Atlanta and Sofitel Washington DC Lafayette Square for $331 Million
Pebblebrook Hotel Trust | January 28, 2020
BETHESDA, Md.- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it executed a contract to sell the 422-room InterContinental Buckhead Atlanta in Atlanta, Georgia and the 237-room Sofitel Washington DC Lafayette Square in Washington, D.C. for $331.0 million to a third party. For InterContinental Buckhead Atlanta, the contracted sale price reflects a 13.7x EBITDA multiple and a 6.4% net operating income capitalization rate based on the hotel’s operating performance for 2018. Based on the hotel’s estimated 2019 operating performance, the contracted sales price reflects a 13.0x EBITDA multiple and a 6.8% net ope...
Value-Add Quality Inn & Suites in Tennessee Will Be Available in Online Auction Via RealINSIGHT Marketplace This December
RealINSIGHT Marketplace | November 12, 2019
This December, Quality Inn & Suites, a full-service hotel located in Centerville, Tennessee, will be auctioned through the online commercial real estate platform, RealINSIGHT Marketplace. The Quality Inn & Suites is a fee-simple interest opportunity offered unencumbered by management and holds a prime location in the County Seat of Hickman County, the Western Gateway to Metro Nashville. About the Property: 39 Rooms Full Service Two Floors Built in 1977 Unencumbered of Management The Quality Inn & Suites also offers a restaurant with complimentary breakfast, a business center, seasonal outdoor ...
70-Room, Limited-Service Hotel in New Mexico to Hit Online Auction Block via RealINSIGHT Marketplace, This December
RealINSIGHT Marketplace | November 7, 2019
Aztec, NM Presidential Inn is being offered significantly below replacement cost with 1.72 Acres included in the sale. This December, Presidential Inn, a 70-room, limited-service hotel located in Aztec, New Mexico, will be auctioned through the online commercial real estate auction platform, RealINSIGHT Marketplace. The offering, presented by Berkadia and RealINSIGHT Marketplace, is unencumbered of management and the current lender will consider financing a new buyer. The new buyer will also have the opportunity to affiliate the Hotel with a new major brand, including Microtel, Comfort Inn, Sleep Inn, Red Lion, Red Roof Inn, o...
Fort Worth, TX Holiday Inn Hotel for Sale on RealINSIGHT Marketplace This December
RealINSIGHT Marketplace | November 5, 2019
This December, Holiday Inn Fossil Creek, a 126-room, full-service hotel is available for purchase through the online commercial real estate sales platform, RealINSIGHT Marketplace. The offering, presented by Paramount Lodging Advisors, provides potential investors with the opportunity to acquire the fee simple interest in a receiver controlled and operated 126-room Holiday Inn hotel with the opportunity to convert to a new Doubletree by Hilton franchise agreement upon sale. About the Hotel: 126 Rooms Five Floors Full Service 2,801 SFof Function Space Built in 2008 Unencumbered of Management and Brand A...
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