Hotel AG Closes 5 Transactions
ATLANTA – August 5, 2012 – Hotel AG announced today the firm closed 5 hotel transactions in the past 14 days. The transactions consisted of 3 Hilton Garden Inns, 1 Hampton Inn and Suites and 1 Holiday Inn. The highest dollar volume transaction was $21 million and the smallest was $10 million. One Hilton Garden Inn was located in a large Northeastern MSA and sold at an accretive cap rate to a private investor. The seller was a large regional hotel development firm located in the Mid-Atlantic region. Two of the Hilton Garden Inn's and the Hampton Inn and Suites were part of a portfolio and sold on behalf of a large Southeast developer to a private investment fund. The Holiday Inn was sold on behalf of a Midwest ownership company and sold to a New York-based investment fund. Hotel AG brokers involved in the transactions included Brad Sinclair and Andy Broad.
Brad Sinclair commented, "We continue to see an outpacing of top tier hotel brand investments that meet both the seller’s disposition expectations as well as the investment returns needed by the buyers.''
Hotel AG has recently been engaged to sell 120 hotels including several portfolios. Today the firm has 289 hotels on the market within the US with a market cap value of $2.7 billion. The company has closed 42 hotel transactions to date in 2012 and is expected to have closed 65 transactions by the middle of August. The firm has 48 hotels under sale agreement with anticipated closings throughout the 3rd quarter. The firm has closed 1 hotel transaction every 7 days for the past 21 months.
About Hotel AG
Hotel AG is a specialized brokerage firm offering hotel specific real estate within the United States. Headquartered in Atlanta, Georgia, the company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Hotel AG can be found online at www.hotelassetsgroup.com.published: 08-06-2012