CHATTANOOGA, Tennessee—Hunter Advisors (Hunter) introduced the sale of the Courtyard Knoxville Cedar Bluff and Residence Inn Knoxville Cedar Bluff in Knoxville, Tennessee. The transaction was brokered by Tim Osborne, senior vice chairman, on behalf of the institutional vendor.
Located off the I-75 and I-40 connector in a distinguished industrial and retail hall, the 2 inns profit from entry to greater than 200 close by eating places and leisure venues. The situation supplies connectivity to key regional demand mills, together with downtown Knoxville, Oak Ridge, the College of Tennessee, Neyland Stadium, Thompson-Boling Area, Oak Ridge Nationwide Laboratory, and the Girls’s Basketball Corridor of Fame, in addition to proximity to greater than 60 native historic websites.
The Courtyard Knoxville Cedar Bluff is a 78-key, three-story resort providing a select-service lodging choice throughout the Marriott portfolio. Facilities embrace The Bistro, 650 sq. toes of assembly area, an indoor pool, and a health middle.
Adjoining to the Courtyard, the Residence Inn Knoxville Cedar Bluff can also be a 78-key, three-story resort designed to serve extended-stay demand. The property contains a mixture of studio, one-bedroom, and two-bedroom suites with separate residing and sleeping areas and in-room kitchenettes. Facilities embrace complimentary breakfast, an out of doors pool, a health middle, and a enterprise middle.
“Cedar Bluff represents one among Knoxville’s most established and constantly performing resort submarkets,” stated Tim Osborne, senior vice chairman at Hunter Advisors. “This portfolio supplied the investor the chance to purchase two institutional Marriott manufacturers with complementary visitor profiles in a high-growth, economically various market. The mix of location, model energy, and long-term fundamentals generated robust curiosity and allowed us to execute a clean and disciplined sale course of.”
