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HREC INVESTMENT ADVISORS ARRANGES SALE OF COUNTRY INN & SUITES - ATLANTA, GA
(Tampa, Florida; Atlanta, Georgia): On behalf of its lender client, Scott Stephens, Principal in HREC Investment Advisors Tampa office and Monty Levy, Senior Vice President in HREC Investment Advisors Atlanta office, arranged for the sale of the 91 room Country Inn & Suites located in the Atlanta suburb of Lithia Springs, Georgia to Banyan Tree Companies LLC. Located near Six Flags Over Georgia and directly off of I-20, the Country Inn & Suites has recently undergone renovations to the Hotel’s guestrooms, public spaces and fitness and guest laundry rooms. The Hotel offers a variety of amenities such as a fitness center; business center, boardroom-style meeting room accommodating up to 12 people; on-site guest laundry machines; complimentary breakfast bar; arcade and game room; and indoor heated pool and hot tub. “We were delighted to find a buyer the quality of Banyan Tree to purchase this asset, and the fact that we received a number of bids from highly qualified buyers allowed us to achieve strong final pricing for our client on this foreclosed asset, while at the same time providing Banyan Tree with an outstanding asset with upside potential as the hotel markets continue to recover,” noted Monty Levy of HREC Investment Advisors Atlanta office. “Moreover, we were able to run a very controlled marketing and sales process with the help of GF Management as the manager of the asset.” “The fact that we were able to attract an out of state buyer for this property further confirms the power of the HREC Investment Advisors national platform” added Scott Stephens, Principal in HREC Investment Advisors Tampa office. “With the recent addition of an office in the Baltimore / Washington, D.C. market, our firm now has 14 offices located throughout the country, which provides us with the most offices and greatest geographic reach in the hotel advisory arena, which in turn is a direct benefit to our clients.” About HREC: HREC is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equality/JV structuring, consulting (marketing studies and appraisals), asset management and litigation support. Within thirteen offices throughout North America, HREC is distinguished by unwavering commitment to client service through its team approach, intellectual capital and hotel/casino specialization. Contacts:
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