Hunter Realty Transacts Three Hampton Inn & Suites for $26 Million

 ATLANTA,  GA,  Mar. 3, 2011—Officials at Hunter Realty today announced the firm represented the sellers of three properties in three separate transactions. 

The transacted hotels are the Hampton Inn & Suites Dallas/Arlington-South, in Texas; the Hampton Inn & Suites Pine Bluff, Ark.; and the Hampton Inn & Suites Texarkana, Texas.  The aggregated price of the three hotels was $26 million.

“These are premium-branded properties in ‘like-new’ condition with an average age under three years old, which means they will require minimal product improvement plan investments,” said Teague Hunter (top right photo), president, Hunter Realty.

 “We have seen the volume of properties coming to market increase substantially over the past five months, including conventional and distressed assets. 

“Concurrently, we’ve seen a sharp rise in activity from special servicers and lenders, which seems to indicate they are ready to begin selling after a period of ‘delay and pray.’  More and more hotels’ performance have begun to improve and the bid/ask spreads have narrowed thanks to give and take on both sides.

 

 “Owners now feel they are receiving a better price and buyers recognize the good value they are acquiring.  All are positive signs of a rebounding hotel environment.”

Lee Hunter (middle left photo) chief operating officer, Hunter Realty, noted that the firm’s nationwide office network played an important role in listing and selling the properties.

“It was a team effort with Gary Mills (bottom right photo), who heads up our Dallas office, as the team leader on all of these transactions,” said Lee Hunter. 

“Gary had a deep understanding of the owners, their needs and the local markets.  This helped him to conclude transactions that were mutually advantageous for both buyers and sellers.”

Contact:    Patrick Daly, Jerry Daly,  media, (703) 435-6293, patrick@dalygray.com