Hotel AG Brokers Sale of Econo Lodge, Avon Park, Florida
ATLANTA – December 20, 2010
– Hotel Assets Group, LLC (Hotel AG), announced today that the firm sold the Econo Lodge in Avon Park, Florida on behalf of US Bank Special Assets Group. The 57-room hotel sold to Guru Krupa, LLC for an undisclosed amount.
"This sale further represents the hotel real estate market beginning to stabilize and new acquisition loans being made. The transaction was closed with a new SBA loan that closed in a timely manner, stated Keith Thompson, principal of Hotel AG. "Our firm has sold numerous hotels for this client reflecting our client driven focus.''
The two-story, exterior corridor property is located near Avon Park Air Force Range off US Highway 27 South. The City of Avon Park is located in Central Florida approximately 78 miles south of Orlando. The buyer continues to operate the hotel as an Econo Lodge for the foreseeable future.
About Hotel AG
Headquartered in Atlanta, Georgia with 16 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 137 hotels on the market in 33 states valued at 1.2 billion. published: 12-20-2010