HFF Closes $30 Million Sale of Award-Winning Conference Center Hotel in North New Jersey

. January 19, 2017

NEW YORK, N.Y. January 19, 2017 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $30 million sale of Dolce Basking Ridge Hotel, a 171-room, full-service, AAA Four Diamond award-winning hotel and executive conference center located in the North New Jersey community of Basking Ridge.

HFF marketed the property on behalf of the seller, Broadreach Capital Partners.

Located 30 miles from Newark International Airport and 40 miles from New York City, Dolce Basking Ridge Hotel is situated on 35 acres in a retreat-like setting at 300 North Maple Avenue. The hotel is located in the heart of northern New Jersey on the border of Somerset and Morris Counties near 49 million square feet of office space and numerous Fortune 500 companies, including Verizon, Chubb Insurance and ADP, all located directly across from the hotel. Completed in 1995, the upscale Dolce Basking Ridge Hotel recently underwent $2 million in renovations to upgrade guestrooms and suites in addition to modernizing the first- and second-floor meeting spaces. The hotel features 21,000 square feet of International Association of Conference Centers-approved function space, Vita Restaurant, Vita Bar, an indoor pool, whirlpool, fitness center, business center, basketball court and tennis court.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF's hotel group, Daniel C. Peek, director KC Patel and associate director Marc Duval, who is based in the firm's Florham Park office.

About Broadreach Capital Partners

Established in 2002, Broadreach Capital Partners is a real estate investment firm that focuses on western U.S. commercial and hotel and resort properties. The firm invests in a wide variety of real estate assets across a number of geographies. Their primary objective is the creation of value through the application of experience gained over decades of involvement in all phases of the real estate business, including the acquisition, development, redevelopment, management, financing, entitlement and disposition of real property. The firm combines this expertise with significant financial resources to produce what, over time, have been industry-leading results. Learn more at broadreachcp.com.

About HFF

HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Business Contact:

Kristen Murphy
T: (617) 338-0990
E: [email protected]

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