HREC Investment Advisors is pleased to announce it has arranged the sale of the 149-guestroom Hampton Inn Ann Arbor South located in Ann Arbor, Michigan. The property was acquired by an affiliate of the Bacall Companies.
HREC Investment Advisors exclusively represented the seller, and affiliate of Broadshore Capital, on this transaction. The marketing and negotiations were led by Monty Levy, Managing Director (Atlanta), and Jeff Preston, Vice President (Chicago). “We were very pleased to have achieved strong pricing on this asset for our client, which confirms the continued demand for high-quality select service assets in desirable markets,” noted Levy. Added Preston, “Bacall Companies is one of the premier owners and operators of nationally recognized branded hotels in Michigan, and we are confident that this will be an accretive acquisition for them given the brand and the Ann Arbor market.”
The hotel is easily visible and accessible from I-94, a major east-west throughway in the state of Michigan. Located on the south side of Ann Arbor, the property is just two miles from the heart of the campus of the University of Michigan, one of the most highly regarded academic and sports universities in the United States. This gives guests easy access to Ann Arbor’s biggest demand generators such as The Big House, Crisler Arena, UofM Graduations, and other university backed events. The Property is also less than a half hour from DTW Airport, the most traveled airport in the region.
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.