Hff Announces Sale of and Financing for 9-State 13-Property Courtyard Hotel Portfolio

Houston, TX.Dec 04, 2017- 

DALLAS, TX-November 30, 2017-Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and the acquisition financing placement for a 13-property portfolio of Courtyard by Marriott hotels totaling 1, 913 rooms in Alabama, Arkansas, Arizona, Florida, Illinois, Kentucky, Ohio, Oklahoma and Virginia.

The HFF team marketed the properties on behalf of the seller, Clarion Partners, LLC. Canada-based Skyline Investments purchased the portfolio unencumbered of the existing management contract and with a new 20-year Marriott franchise agreement. Additionally, working on behalf of the new owner, the HFF team placed the five-year, floating-rate loan with a global investment bank.

The portfolio properties are located in Midwest, Southeast and Southwest markets:Birmingham and Huntsville, Alabama;Little Rock, Arkansas;Tucson, Arizona;Fort Myers, Florida;Chicago, Illinois;Lexington, Kentucky;Dayton and Toledo, Ohio;Oklahoma City, Oklahoma;and northern Virginia. The properties were completed between 1985 and 1989 and feature a variety of amenities, including an outdoor or indoor swimming pool, 24-hour business center, on-site bistro, fitness center, meeting space, sundry shop, shuttle service and lobby theater with lounge seating.

The HFF investment advisory team representing the seller included senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director John Bourret and director Austin Brooks along with managing director Marty O'Connell, a licensed Kentucky real estate broker.

The HFF debt placement team representing the borrower was led by director De’On T. Collins.

HFF, acting by and through Holliday GP Corp., is a commercial mortgage broker licensed with the Arizona Department of Financial Institutions, License Number CMB 0938500 and NMLS Number 1524298.

HFF, acting by and through Holliday GP Corp., is an Oklahoma licensed real estate broker.

About Clarion Partners
Clarion Partners, LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 35 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, D.C. With more than $43 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 300 domestic and international institutional investors. More information about the firm is available at clarionpartners.com.

About Skyline Investments Inc.
Skyline Investments Inc. (“Skyline”) is a Toronto, Canada-based investment company incorporated since 1998. Currently, Skyline is traded on the Tel Aviv Stock Exchange (SKLN.TA) and has assets totaling approximately $500M including significant cash-flow hotel and resort land properties. Skyline performs select land development around its resorts. Visit skylineinvestments.com for more information.

About HFF
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.


/ SLIDES
Media Contact:

Kristen Murphy
Director, Public Relations
HFF
T: 617-338-0990
E: krmurphy@hfflp.com
W: http://www.hfflp.com
Read Our Blog: http://www.theadvisor.hfflp.com
Follow us on Twitter: http://www.twitter.com/hff
Become a Facebook Fan: http://www.facebook.com/hfflp/
Tags: Hotel financing, hotel sale, hotel business, HFF, Holliday Fenoglio Fowler, hotel portfolio, Courtyard by Marriott

About HFF

Related News

Coming up in January 2018...

Mobile Technology: Relentless Innovation

Technology has become a crucial component in attracting and retaining hotel guests, and the need to enhance a guest’s technology experience is driving a relentless pace of innovation. To meet and exceed guest expectations, 54% of hotels will spend more on technology in 2018, and mobile solutions in particular will top the list of capital investments. Many hotels are integrating mobile booking, mobile keys, mobile payments and mobile check-in into their operations. Other hotels are emphasizing the in-room experience, boosting bandwidth and upgrading flat screen TVs to more easily interface with guest mobile devices. And though not yet mainstream, there are many exciting technology developments on the near horizon. The Internet of Things (loT) is taking form in some places, and can be found in guest room control systems, voice activation systems, and in wearable sensors that can be used for access and payment options. Virtual reality headsets are available at some hotels so guests can enjoy virtual trips to exotic locations or if off-property, preview conference facilities and guest rooms. How long will it be before a hotel employs a fleet of robots for room service, or utilizes a hologram as a concierge, or installs gesture-controlled walls that feature interactive digital displays? Some hotels are already using augmented reality for translation services, or interactive wall maps, or even virtual décor. This pace of innovation is challenging property owners and brands to stay on top of the latest technology trends while still addressing current projects. The January Hotel Business Review will explore what some hotels are doing to maximize their opportunities in the mobile technology space.