DENVER, Colorado; ATLANTA, Georgia—HREC Funding Advisors introduced that it organized the sale of the 101-room Hampton Inn & Suites Prattville, positioned in Prattville, Alabama. Sage Lane Companions and ARK Holdings acquired the property in a three way partnership for an undisclosed sum from Williams Accommodations.
HREC Funding Advisors completely represented Williams Accommodations on this transaction. The advertising and negotiations had been led by Michael Salloway (senior vice chairman), Tom Huegel (senior vice chairman), and Monty Levy (managing director and Alabama dealer of document), all positioned 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 customer and vendor. The Hampton Inn & Suites Prattville is the primary property acquired for Sage Lane’s portfolio, and this was the vendor’s ultimate hospitality property. I want them each the very best of luck of their subsequent chapters,” expressed Salloway.
Resort company are inside strolling distance of varied eating spots and buying shops, 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 Power Base.
“The Hampton Inn & Suites Prattville is the perfect acquisition for Sage Lane Companions,” mentioned Bhavnesh Vivek, managing accomplice with Sage Lane Companions. “We’re actively searching for well-branded motels in secondary and tertiary markets with a number of demand mills with upside potential we’re assured we are able to unlock by means of property enhancements, in addition to the set up of our proprietary administration and advertising techniques. The HREC group was a pleasure to work with, offering the solutions and options we would have liked in a well timed {and professional} method.”