Sage/Peterson Acquire Courtyard Portfolio
Friday April 5th, 2013 - 9:38AM HF
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NEW YORK—Sage Hospitality with Whitman Peterson acquired a portfolio of six Courtyard by Marriott properties in Atlanta, Dallas and Detroit.
Jones Lang LaSalle’s Hotels and Hospitality Group closed the sale of the portfolio on behalf of an affiliate of Clarion Partners, LLC. Managing Directors Al Calhoun and Mark Fair led the Jones Lang LaSalle team on this transaction.
“This acquisition provides Sage Hospitality and Whitman Peterson with a critical mass of hotels with superior branding in three key select service markets,” said Calhoun. “The portfolio has the ability to substantially increase RevPAR penetration, grow NOI and provide strong investment returns.”
The Courtyard by Marriott’s typical amenities include a fitness center, business center and swimming pool.
The properties in the portfolio include: The 146-room Courtyard by Marriott 75 North, Marietta, GA; the 127-room Courtyard by Marriott Atlanta Windy Hill, Atlanta, GA; the 131-room Courtyard by Marriott Atlanta Norcross Peachtree Corners, Atlanta, GA; the 145-room Courtyard by Marriott Dallas Addison Midway, Dallas, TX; the 146-room Courtyard by Marriott LBJ at Josey Lane, Dallas, TX; and the 157-room Courtyard by Marriott Detroit Southfield, Southfield, MI.
Tags: • Hospitality • Brokers • Ownership •
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