DENVER, Colorado; DETROIT, Michigan; ATLANTA, Georgia—HREC Funding Advisors introduced it has organized the sale of the 94-room Sonesta Merely Suites Detroit – Novi and the 122-room Sonesta Choose Detroit – Novi, positioned in Novi, Michigan and the 148-room Sonesta Choose Detroit – Auburn Hills, positioned in Auburn Hills, Michigan. A Michigan-based lodge proprietor/operator has acquired all three belongings.
HREC Funding Advisors completely represented an affiliate of Service Properties Belief (SVC) as the vendor on this transaction. The advertising and negotiations have been led by Scott Stephens (senior principal & COO – Tampa), Monty Levy (managing director – Atlanta), Jeff Preston (senior vp – Detroit), and Justin Goodenow (vp – Detroit). Service Properties Belief, or SVC, is an actual property funding belief, or REIT, with over $11 billion invested in two asset classes: accommodations and service-focused retail internet lease properties. As of December 31, 2024, SVC owned 206 accommodations with over 35,000 visitor rooms all through the US, Puerto Rico, and Canada.
“This profitable transaction on behalf of one in all HREC’s most vital purchasers additional evidences the industry-leading platform of our agency, the place our giant geographic footprint provides worth,” famous Levy. Added Preston, “We have been delighted to attain sturdy pricing for our shopper on these trades whereas on the similar time efficiently transacting with one in all Michigan’s main lodge corporations.”
The Sonesta Merely Suites – Detroit Novi and Sonesta Choose – Detroit Novi present easy accessibility to the Suburban Showplace Middle, Twelve Oaks Mall, Ascension Windfall Hospital, Interstate 696, downtown Detroit, and a number of other different demand mills. The Motels are positioned close to numerous companies, together with Harman Worldwide, Ryder Techniques, ITS Holding Corp, Cooper Normal Automotive, and Rapita Techniques. For leisure vacationers, the Motels are lower than a mile from Twelve Oaks Mall, close by Maybury State Park, two golf programs, and Oakland Hills Memorial Gardens.
The Sonesta Choose – Detroit Auburn Hills gives easy accessibility to a number of demand mills. Auburn Hills is positioned lower than 30 miles north of Downtown Detroit and the United States-Canada border. The Auburn Hills speedy space is house to Chrysler’s headquarters, three hospitals, Oakland College, an amphitheater, a group school, and a 185-storefront outlet mall. Interstate 75 connects Auburn Hills to the Ambassador Bridge, which is North America’s #1 worldwide border crossing.
