DENVER, Colorado; ATLANTA, Georgia—HREC Funding Advisors introduced that it organized the sale of the 101-room Hampton Inn & Suites Prattville, situated in Prattville, Alabama. Sage Lane Companions and ARK Holdings acquired the property in a three way partnership for an undisclosed sum from Williams Inns.
HREC Funding Advisors solely represented Williams Inns on this transaction. The advertising and marketing and negotiations have been led by Michael Salloway (senior vice chairman), Tom Huegel (senior vice chairman), and Monty Levy (managing director and Alabama dealer of file), all situated in HREC’s Atlanta workplace.
“This was a really thrilling transaction because it represents the turning of a brand new web page for each the client and vendor. The Hampton Inn & Suites Prattville is the primary property acquired for Sage Lane’s portfolio, and this was the vendor’s closing hospitality property. I want them each one of the best of luck of their subsequent chapters,” expressed Salloway.
Resort visitors are inside strolling distance of varied eating spots and buying retailers, together with Bass Professional Outlets. The lodge can be a brief drive from the Capitol Hill Golf Course, a part of the Robert Trent Jones Golf Path, and Maxwell Air Drive Base.
“The Hampton Inn & Suites Prattville is the perfect acquisition for Sage Lane Companions,” mentioned Bhavnesh Vivek, managing companion with Sage Lane Companions. “We’re actively looking for well-branded inns in secondary and tertiary markets with a number of demand turbines with upside potential we’re assured we are able to unlock by way of property enhancements, in addition to the set up of our proprietary administration and advertising and marketing methods. The HREC group was a pleasure to work with, offering the solutions and options we wanted in a well timed {and professional} method.”
