Hunter Hotel Advisors announced a record start to 2013, and is on track to close eight transactions in the month of February alone.
Teague Hunter, president of Hunter Hotel Advisors, points Hunter's success to an aggressive jump in investor interest, similar to what the industry experienced in 2008. "We've seen a renewed interest in the secondary market assets where investors can take advantage of attractive 8%- 10% cap rates verses 6% in major markets."
Since founded by Bob Hunter in 1978, Hunter Hotel Advisors has expanded their sales and national brokerage infrastructure to seven strategically located offices to better serve and negotiate in all regions. "This is a great start to 2013," said Hunter. "Our offices are selling from all four corners of the map." Hunter credits both a vibrant real estate market and talented field brokers who know the regions real estate trends and conditions.
"California remains a strong hotel market as does the Eastern corridor from New England to Miami," Hunter said. "We also are seeing an uptick in hotel real estate activity at our office in the Midwest." Recent Transactions have included a sale from the Holiday Inn Express in Merced, CA, for Campbell Lodging and a sale of the Fairfield Inn in Springfield, IL, for Archon Group.
As for the rest of 2013, Hunter feels the lending market has warmed up as Hunter's Capital Market group has seen a flurry of activity. "A strong bench of buyer groups are indicating their intent to purchase at historically low lending rates," said Angelo Stambules, Senior Vice President of Capital Markets.
The firm is currently marketing close to 75 hotels totaling $650 million in cap value with an additional 8 hotels scheduled to close next month. Additional information, including current listings, is available at the company's website, www.HunterHotels.net, or by contacting the Atlanta headquarters at 770-916-0300.
Hunter is one of the nation's leading providers of specialty brokerage and advisory services to the hotel industry. With seven strategically-located offices, Hunter's team of seasoned professionals and the industry's brightest stars have leveraged their combined expertise to successfully advise thousands of clients through all economic conditions. Additional information, including listings is available at www.hunterhotels.net.