HREC Investment Advisors is pleased to announce it has arranged the sale of the 149-room all-suite DoubleTree Suites Huntsville South Hotel located in Huntsville, Alabama. The purchaser was Gate 1, LLC, an affiliate Aurora Capital, Brewer Realty and LRC2 Properties, each a multi property owner with significant hospitality holdings. Expotel Hospitality has been obtained to manage the property.
HREC Investment Advisors exclusively represented Enterprise Lodging of Huntsville, LLC, based in Huntsville, Alabama, on this transaction. The marketing and negotiations were led by Tom Huegel, Senior Vice President (Atlanta) and Broker of Record of Alabama, Monty Levy, Managing Director (Atlanta).
“The buyer saw an opportunity to pursue a significant improvement plan, both interior and exterior, to reposition this all-suite hotel and make it one of the finest hotels in the fast-growing Huntsville market in a location just outside the gate #1 entrance into Redstone Arsenal,” stated Huegel.
The Hotel is situated in the Southwest quadrant of S. Memorial Parkway (HWY. 231) and Martin Road, which is the Gate 1 entrance into Redstone Arsenal. The Hotel is located approximately five miles south of downtown Huntsville, seven miles south of the University of Alabama in Huntsville, 11 miles southeast of Cummings Research Park, and proximate to a variety of other corporate, leisure, and government demand generators. Additionally, the Huntsville Medical Center, as well as prominent defense contractors, are located within proximity to the Hotel.
HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting including market studies, and litigation support. With 20 offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital, and hotel/casino specialization.