Hotel AG Brokers Sale of a 364-Room Wyndham Hotel in the Middle Atlantic Region
ATLANTA – July 18, 2011 – Hotel Assets Group, LLC (Hotel AG), announced today they closed on a 364-room Wyndham Princeton Forrestal Hotel and Conference Center in the Middle Atlantic Region on behalf of US Bank. The property sold to InnZen Hospitality for an undisclosed amount. "This sale is another example of a stabilizing hotel transaction market. This full-service hotel is intrinsically spectacular but suffered financial setbacks over the last couple of years, thereby resulting in a sales price that was below the debt,'' stated Keith Thompson, principal of the firm. "The buyer is a very well respected Middle Atlantic Region-based hotel company that plans to renovate and convert the hotel, and will do very well with the investment.'' The Wyndham is a full-service hotel and conference center. The Hotel offers a unique layout and design situated on more than 35 acres comprised of a three- and five-story main hotel structure with an adjoining building comprising the conference facility. The Hotel provides a full-service fitness center, an indoor swimming pool, two full-service restaurants and 47,000 square feet of meeting space.
About Hotel AG
Headquartered in Atlanta, Georgia with 19 national offices, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has 129 hotels on the market in 33 states valued at $1.3 billion.published: 07-18-2011