NATIONAL REPORT—Hotel Business is tracking U.S. hotel transactions. SVN Hotels, Concord Wilshire Capital LLC and HREC Investment Advisors have recently made deals. Here are the details:
SVN Hotels Arranges Sales of Holiday Inn Express & Suites, Lander, WY
SVN|Hotels has arranged the sale of the 78-unit Holiday Inn Express & Suites in Lander, WY, for $6.4 million. This transaction is in addition to the recent sale of the Hyatt Place in Midtown Raleigh and Days Inn downtown Raleigh by SVN Hotels. Sanjay Mundra, Bryan Robbins and Jerry Fiume of SVN Hotels facilitated the deal between Lander Hotel Group of Ohio and Timberline Hospitalities of Wyoming. The new ownership group has plans to renovate the property and maintain the Holiday Inn license.
Former Holiday Inn Property in Florida Under Contract
Concord Wilshire Capital LLC and TLG Investment Partners LLC have a sale agreement to acquire the former Holiday Inn site as well as the former Villa Caprice beachfront site located in Lauderdale-By-The-Sea, FL. Concord Wilshire is a joint venture partner with TLG, which is headed by Leland C. Pillsbury and Christopher Nieberding.
HREC Arranges Sale of Two TownePlace Suites in Colorado
HREC Investment Advisors has arranged the sale of the 99-guest suite TownePlace Suites Denver Southwest, located in Littleton, CO, and the 94-guest suite TownePlace Suites Garden of the Gods located in Colorado Springs, CO. HREC Investment Advisors represented the seller, Scio Hospitality, during the transaction. The sale was negotiated by Jeffrey Duni, SVP in the Denver office. The buyer was Sun Hill Properties Inc.