ATLANTA, Feb. 28, 2022 /PRNewswire/ — Hodges Ward Elliott (“HWE”), the premier boutique real estate capital markets advisor, announced the sale of a three-property, 376-room hotel portfolio (the “Portfolio”), located in the Portland, Eugene, and Pittsburgh submarkets.
The Portfolio consists of the 137-room Aloft Hillsboro-Beaverton built in 2017; the 120-room Home2 Suites Eugene Downtown University Area built in 2016; and the 119-room Home2 Suites Pittsburgh/McCandless built in 2013. The three recently built hotel properties each boast exceptional locations within their submarkets and benefit from their premium-branding, young average age, and a varied set of corporate, education, and leisure demand generators.
The properties were developed, owned, and operated by the seller, Widewaters Hotels of Syracuse, NY. HWE led a competitive marketing process for that garnered heavy interest and received multiple bids from a diverse array of buyer types that ultimately led to a single transaction with Peachtree Hotel Group.
“The sale of these assets further demonstrates investor interest in the select-service category,” said Clint Hodges, Managing Director of HWE. “We were pleased to find a single buyer for this portfolio of well-built, premium hotels in growing Northeast and Northwest submarkets.”
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