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 •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.