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."
About Hodges Ward Elliott:
Hodges Ward Elliott ("HWE") is the premier boutique real estate capital markets advisor, empowered to deliver exceptional results across a broad spectrum of business lines and product types. HWE’s multi-disciplined platform includes commercial, hotel and debt capital markets teams, with offices in Atlanta, Chicago, Dallas, Los Angeles, New York, Miami, Washington D.C., and London. As a privately held company, HWE is dedicated to cultivating long-term client relationships and takes pride in the reputation and track record established over its 47-year history. HWE has closed over $80 billion of transactions, including more than $35 billion since 2015. For more information, please visit https://hodgeswardelliott.com/.
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SOURCE Hodges Ward Elliott
