Hotel Assets Group Closes 5 Hotel Transactions in October
ATLANTA - November 4, 2013 - Hotel AG announced today the firm closed 5 hotel transactions in the month of October. The hotels sold consisted of a Hilton Garden Inn and Hampton Inn & Suites in Nanuet, NY; a StayBridge Suites in Mt. Laurel, NJ; a bank-owned hotel located on the west coast and a Best Western located in Jacksonville, Florida. Hotel AG senior partners involved in the transactions included Andy Broad, Brad Sinclair, Tom Huegel and Michael Bernath.
Keith Thompson, principal of the firm, commented, "These 5 recent transactions were all private owned and private buyers and continue to represent the strength of this current hotel real estate market. These recent transactions are great examples of the market today being both a seller and buyers' market. There were great return metrics for the sellers as well as accretive value for the buyers."
About Hotel AG
Hotel AG is a national hotel brokerage firm headquartered in Atlanta, Georgia. The firm has been involved in 1 hotel transaction every 5 days for the past 3 years, and has sold or advised on 102 hotel transactions. Today, Hotel AG has about 183 hotels on the market with a market cap value of $1.6 billion including 31 transactions expected to close by year-end 2013. The firm specializes in select service and full service hotels within the US and works with CMBS lenders, whole loan banks, REITs, public companies, investment funds and private investors. The firm has 15 national brokers and 19 partners and can be found online at www.hotelassetsgroup.com.published: 11-04-2013