portfolio sale
Avison Young Closes Last Hilton Hotel in Portfolio Sale
Avison Young | July 19, 2023
ATLANTA – July 19, 2023 – Avison Young announces today that the firm has closed the transaction on the last Hilton hotel in a 10-property portfolio sale. The portfolio were all Hilton and Marriott assets located in Maryland and Pennsylvania and consisted of four Home 2 Suites, two Homewood suites, two Hampton Inns & Suites, one Fairfield Inn and one Tru by Hilton. Brad Sinclair said, “This portfolio sale represents once again, the strength of the Hilton and Marriott brands and consistent yield for investors. Financing today is very challenging, but with the right property type and actual performance, debt is still available.”...
Condor Hospitality Completes Sale of Its 15 Hotels Portfolio
Condor Hospitality Trust, Inc. | November 23, 2021
NORFOLK, NE – November 23, 2021 – Condor Hospitality Trust, Inc., a hotel-focused real estate investment trust (“REIT”) headquartered and incorporated in the state of Maryland, today announced that it has completed the sale of the Company’s 15 hotels. The sale of the hotels was completed pursuant to the previously announced Hotel Purchase and Sale Agreement, dated September 22, 2021, between the Company and B9 Cowboy Mezz A LLC, a Delaware limited liability company and an affiliate of Blackstone Inc. (the “Buyer”), in which the Company agreed to sell the hotels to Buyer and Buyer agreed to purchase the hotels for a purchase p...
Apple Hospitality REIT Acquires Portfolio of Three Hotels for $126 Million
Apple Hospitality REIT, Inc. | November 19, 2021
RICHMOND, VA – November 19, 2021 – Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of a portfolio of three hotels for a total purchase price of $126 million. As previously announced, the portfolio consists of the existing 157-room Hilton Garden Inn Fort Worth Medical Center in Fort Worth, Texas, for a total purchase price of $29.5 million, or approximately $188,000 per key; the existing and recently renovated 112-room Homewood Suites by Hilton Fort Worth Medical Center in Fort Worth, Texas, for a total purchase price of $21.5 million, or approximately $192,000 per ke...
JMBM Is Hotel Counsel for Condor Hospitality in $305 Million Hotel Portfolio Sale
Global Hospitality Group® | September 29, 2021
LOS ANGELES, CA – September 29, 2021 – The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce its representation of Condor Hospitality Trust in the sale of the company's entire portfolio to Blackstone Real Estate Partners. The $305 million deal was announced September 23, 2021 and is expected to close by the end of the year. Condor Hospitality Trust (NYSE American:CDOR) is a publicly-traded real estate investment trust specializing in the ownership of premium-branded select-service, extended stay, and limited-service hotels franchised under brands including Hilton, Marriott, and IHG. J...
Colony Capital Enters Agreement With Highgate to Sell Six Hospitality Portfolios for $2.8 Billion
Colony Capital, Inc. | September 25, 2020
LOS ANGELES - Colony Capital, Inc. (NYSE: CLNY) (“Colony Capital” or the “Company”) today announced it has entered into a definitive agreement to sell six of its hospitality portfolios to Highgate, a premier real estate investment and hospitality management company, in a transaction valued at $2.8 billion, including $67.5 million of gross proceeds on a consolidated basis and the assumption of $2.7 billion in consolidated investment-level debt. The six portfolios consist of 22,676 rooms across 197 hotel properties. As part of the transaction with Highgate, Colony will transfer (i) five of the six portfolios held in the Hospitality ...
