Hotel AG Brokers Sale of an East South Central Region Limited-Service Hotel
ATLANTA – August 1, 2011 – Hotel Assets Group, LLC (Hotel AG), announced today they closed an 122-room Red Roof Inn in the East South Central Region on behalf of R-Roof VI, LLC. The property sold to NNP Cool Springs, LLC for an undisclosed amount. "On this transaction we were able to work with a locally-based hotel ownership group that was able to secure financing with a local lender through the SBA program," stated Victor Kalyanji, vice president and partner of the firm. The property is a three-story interior corridor hotel. The buyer is planning an extensive renovation program over the next 12 months and will keep the property a Red Roof Inn.
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: 08-01-2011