Hampton Inns Sold in Charlotte, NC and Columbia, SC
October 19, 2011 - Jones Lang LaSalle Hotels announced today that it has arranged the sale of two Hampton Inns in North and South Carolina, on behalf of Westwind Investors. Terrapin Investments acquired the properties.
Leading the Jones Lang LaSalle Hotels team on this transaction were Managing Director Mark Fair and Senior Vice Presidents Ros Mallory and Chris Dewey.
“These are well-positioned assets which serve the growing leisure and commercial-oriented business in each market. It was an excellent opportunity to invest in performing assets with solid in-place cash flows,” said Fair. “Both properties have strong brand recognition and a significant base of demand generators.”
The properties, totalling 211 rooms, included the following assets:
The 100-room, Hampton Inn & Suites Charlotte-Arrowroad located in Charlotte, North Carolina, just seven miles from downtown Charlotte off of Interstate 77. The property features 1,300 square feet of meeting space, an outdoor swimming pool, and fitness and business centers.
The 111-room, Hampton Inn Columbia Northeast located in Columbia, South Carolina is well located between I77 and I20 near Fort Jackson Army base. The property features an outdoor swimming pool and fitness center.
Each property will undergo brand improvements including the new Hampton Inn “Perfect Mix” lobby along with renovations to the guestrooms. These capital improvements will enable the properties to remain the market leaders for the foreseeable future.
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