Hotel AG Announces Sale of The Holiday Inn, Jacksonville, Florida
ATLANTA – April 17, 2013 – Hotel AG announced today the firm closed the sale of the full-service Holiday Inn located in Jacksonville, Florida last week. The five-year old property was sold as part of a loss share agreement for a lender. The hotel was sold on behalf of Kasam Hospitality, Inc. II to PMG Services.
Tom Huegel, vice president and partner of the firm, commented, "The transaction was a good investment for the purchaser due to the lower than replacement economics and a very vibrant market.''
About Hotel AG
Hotel AG is a national hotel brokerage firm headquartered in Atlanta, Georgia. The firm has closed 1 hotel transaction every 7 days for the past 30 months and 76 hotels within the last 12 months. Today the firm has almost 300 hotels on the market with a large percentage of the 300 under sale agreement. 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: 04-17-2013