OwnershipReal Estate

HREC Arranges Sale of the TownePlace Suites by Marriott Charlotte-Arrowood

February 3, 2023

HREC Investment Advisors is pleased to announce it has arranged the sale of the 94-room Towne Place Suites by Marriott Arrowood-Charlotte located in Charlotte, North Carolina.

HREC Investment Advisors exclusively represented 3H Group, Inc. on this transaction. Headquartered in Chattanooga, Tennessee, 3H Group, specializes in premier real estate development and management. The marketing and negotiations were led by Amish Naik, Vice President (Charlotte) and Monroe Scott Stephens, Sr., Corresponding Broker and Broker of Record in North Carolina.

“There were several hurdles throughout the sale process as the purchaser was going to be using the property for an alternative use,” Hiren Desai, President of 3H Group, Inc. “However, Amish was able to manage the process and help us negotiate terms that worked for us and ultimately successfully close the transaction. We enjoyed working with Amish and HREC, and would definitely work with them on future transactions.”

About HREC®

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.

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