ATLANTA – February 28, 2019 – Avison Young Hospitality Group in association with Metropolis Property Group announced today the closing of the 170-room Residence Inn on Long Island for $20,500,000. Thierry Roch of Avison Young and James Ashley (A.J.) Johnson with Metropolis Property Group handled the sale.
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Avison Young Hospitality Group currently has 194 hotels on the market totaling $2.7 billion in market value, and for the past six years, the firm has closed or advised on 371 hotel transactions. Avison Young Hospitality Group specializes in select service and full-service hotels within the U.S. and works with CMBS lenders, whole loan banks, REITs, public companies, investment funds, and private investors. Visit Avison Young’s hospitality group online at www.avisonyoung.com under the “services” tab.
Contact: H. Keith Thompson
keith.thompson@avisonyoung.com/770.692.1605
Metropolis Property Group, Inc. is a privately owned real estate investment and development company based in Long Island, New York. MPG focuses on the acquisition, development, and redevelopment of residential multifamily, retail, and hospitality asset classes. MPG targets high-quality real estate investments with value add opportunities that create sustainable assets for all its clients.
The company’s Principals have over twenty years of experience in real estate investments and development and have been involved in over $4 billion of real estate transactions across a multitude of asset classes including market rate and affordable residential, senior housing, assisted living, office, industrial, hospitality, and retail. The Principal’s vast experience in numerous facets of real estate with both Fortune 250 companies and private real estate companies allow for the packaging of all services including acquisitions, development, leasing, investment sales, land use entitlements, and consulting.