HREC Arranges Sale of Comfort Inn
DENVER, CO. and ATLANTA, GA. April 4, 2017 - HREC Investment Advisors is pleased to announce it has arranged the sale of the 70-guestroom Comfort Suites located in Beaufort, South Carolina. The property was acquired by a regional buyer.
Monty Levy, Senior Vice President in the Atlanta office of HREC, exclusively represented the seller, an affiliate of HD Companies, during the transaction.
"This was our first engagement on behalf of HD Companies, which is a growing player in the hotel development arena in the greater Savannah market,” noted Levy. Added Levy, “While there were complications in getting the deal to closing due to CMBS debt that needed to be assumed, we were pleased to get it closed on behalf of HD Companies at very strong pricing, further validating the growing demand for high-quality hotel assets in the South Carolina and Georgia lowcountry region.”
Beaufort is situated on Port Royal Island in the heart of South Carolina's lowcountry. The City is roughly 40 miles from Savannah, GA and approximately 35 miles from Charleston, SC. Both Savannah and Charleston have major airports with nonstop service to destinations throughout the United States. Beaufort is the second oldest city in South Carolina, and is renowned as a tourist destination for its preservation of colonial, antebellum architecture.
About HREC®: HREC® is the nation's leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.
For addition information on the property, please contact:
Contact:
Monty Levy
Senior Vice President
[email protected]
404.671.9598 x101
Scott Stephens
COO & Senior Principal
[email protected]
813.635.0600
Ashley Hunt
Director of Marketing
[email protected]
303.267.0057
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