HWE Arranges Sale of 280-Room Hotel Portfolio in Texas
Boutique real estate capital markets advisor Hodges Ward Elliot has brokered the sale of a three-property, 280-room hotel portfolio in Texas. The seller was Avatar Hotel Group while the buyer was not disclosed.
The portfolio consists of the 109-room Fairfield Inn & Suites Waco North built in 2004; the 83-room Fairfield Inn & Suites Marshall built in 2005; and the 88-room Holiday Inn Express & Suites Dallas South Desoto built in 2007. The three recently renovated hotel properties each benefit from highly visible locations near notable demand drivers.
“HWE conducted a comprehensive marketing process on behalf of Avatar for the three hotels and the development site which garnered substantial interest,” said Austin Brooks of HWE. “After a competitive bidding process with multiple offers, we were able to identify separate buyers for these investment opportunities and we’re pleased to close the sale of this portfolio as two transactions.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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