HFF Closes Sale of Savannah Staybridge Suites
Wednesday April 10th, 2013 - 9:37AM FH
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SAVANNAH, GA—HFF closed the sale of the Staybridge Suites Savannah Historic District, a 104-room, extended-stay hotel.
An affiliate of Noble Investment Group purchased the hotel on an all-cash basis.
The Staybridge Suites is located at 301 East Bay St. in Savannah’s historic downtown and tourism district. Completed in 2006, the five-story property is comprised of both historic and newly constructed buildings featuring oversize studio and one-bedroom suites, as well as a restored 1870s-era banquet facility.
The offering also included an adjacent, 16,200-sq.-ft. development site.
HFF marketed the property on behalf of the seller, Savannah Hospitality Properties, LLC.
Savannah Hospitality Properties, LLC is an affiliate of Fremont Realty Capital, a San Francisco-based private investment company.
The HFF team representing the seller was led by senior managing director and head of the hospitality practice group Daniel Peek, Managing Director Holden Lim, Director Max Comess and analysts Christopher Lingerfelt and Alexandra Lalos.
Tags: • Hospitality • Brokers • Ownership •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.