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 resort proprietor/operator has acquired all three property.
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: resorts and service-focused retail internet lease properties. As of December 31, 2024, SVC owned 206 resorts with over 35,000 visitor rooms all through the USA, Puerto Rico, and Canada.
“This profitable transaction on behalf of one among HREC’s most vital shoppers 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 robust pricing for our shopper on these trades whereas on the similar time efficiently transacting with one among Michigan’s main resort firms.”
The Sonesta Merely Suites – Detroit Novi and Sonesta Choose – Detroit Novi present quick access to the Suburban Showplace Heart, Twelve Oaks Mall, Ascension Windfall Hospital, Interstate 696, downtown Detroit, and a number of other different demand mills. The Lodges are positioned close to numerous companies, together with Harman Worldwide, Ryder Methods, ITS Holding Corp, Cooper Normal Automotive, and Rapita Methods. For leisure vacationers, the Lodges 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 supplies quick access 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 instant space is residence to Chrysler’s headquarters, three hospitals, Oakland College, an amphitheater, a neighborhood 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.