Hotel AG Sells a West South Central Region Portfolio
Atlanta, GA August 30, 2010- Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated the sale of two Hilton Garden Inn hotels located in the West South Central Region. The two properties are a 153-room Hilton Garden Inn and a 134-room Hilton Garden Inn, sold on behalf of Jackie’s International. The portfolio sold to Apple REIT Nine for an undisclosed amount. Brad Sinclair, Vice President of Hotel AG stated, "Both hotels had strong operating performance throughout the economic decline making the sale possible for the owner and a good purchase for the buyer.'' "What made this transaction possible was the quality of the developer, Jackie’s International, and the strength of the buyer,'' remarked Keith Thompson, principal of Hotel AG. The Hilton Garden Inn is a six-story, interior corridor hotel built in 2006. The five-story Hilton Garden Inn was built in 2007. The Buyer plans to perform minor renovations on both hotels and continue operating them as a Hilton Garden Inn.
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: 08-30-2010