Hotel AG Structures Sale of Rodeway Inn
Florence, Kentucky
ATLANTA, GA - July 16, 2010 - Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated the sale of the Rodeway Inn located in Florence, Kentucky on behalf of Midland Loan Services. The property sold to Malaxmi, Inc. for an undisclosed amount.
Victor Kalyanji, vice president of Hotel AG stated, “We are pleased to have represented a long term institutional client on this asset and also have the opportunity to work with a buyer whom we have a long term relationship with also. “
The Rodeway Inn is a three-story, 134-room structure originally built as a generation one Fairfield Inn. At the time of sale, the hotel reported 101 rooms into the Choice franchise system. The property is situated on approximately 2.87 acres and is located four miles from the Cincinnati/Northern Kentucky International Airport.
About Hotel AG
Hotel AG is a national hotel brokerage firm headquartered in Atlanta, Georgia with 16 offices throughout the U.S. The company specializes in the sale of hotel real estate throughout the continental 48 states. Today, Hotel AG has 139 hotel engagements totaling $1.3 billion in value, including six portfolios with a combined 87 properties. The company has closed more transactions in 2010 than the entire 2009 year and currently has 35 hotels under agreement as of July 2010. For further information about this transaction and current hotel property offerings, please visit www.hotelassetsgroup.com.
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