Hotel AG Sells a South Atlantic Region Hilton Garden Inn
Atlanta, GA July 30, 2010– Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated the sale of a Hilton Garden Inn in the South Atlantic Region on behalf of Baywood Hotels. The property sold to Apple REIT Nine for a purchase price of $17,400,000. Brad Sinclair, Vice President of Hotel AG stated, "This transaction was made possible due to the quality of the developer, Baywood hotels, and the strength of the buyer, Apple REIT. This transaction closed 60 days from start to finish and was very smooth for both parties involved. " The Hilton Garden Inn is a four-story, 107-room hotel that opened in July 2010. The property is located on 1.8 acres.
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 139 hotels on the market in 34 states valued at 1.2 billion.published: 07-30-2010