MIG Real Estate Acquires Two Hilton-Branded Hotels in Savannah, Georgia
NEWPORT BEACH, CA. August 6, 2015 - MIG Real Estate, a Newport Beach, California-based real estate investment company, has acquired two Hilton select-service hotels, Hilton Garden Inn Savannah Midtown and Hampton Inn & Suites Savannah Midtown, in the thriving midtown market of Savannah, Georgia.
"We are pleased to add these Hilton select-service hotels to our portfolio, furthering our relationship with the Hilton family of brands," said Greg Merage, CEO of MIG Real Estate. "The Hilton Garden Inn and Hampton Inn & Suites in Savannah feature an outstanding location near major hospitals, universities, and businesses in the midtown area with direct accessibility to the amenities and rich history of the city's downtown."
MIG Real Estate has acquired 14 hospitality properties throughout the U.S., including 6 Hilton select service hotels. Concord Hospitality Enterprises, based in Raleigh, North Carolina, will operate the property for MIG.
Located in Midtown Savannah, the Hilton Garden Inn and Hampton Inn & Suites are just 3.5 miles from Savannah's Historic District and waterfront with convenient access to Interstate-516 and Interstate-95. The hotels are situated in one of Savannah's largest commercial areas on Abercorn Street. Midtown's strong lodging submarket is driven by the nearby Hunter Army Airfield, five universities, two regional hospitals and Savannah's Historic District.
Opened in 2007, the Hilton Garden Inn has nearly 3,500 square feet of meeting space including the 3,182-square-foot Mercer room, which can be divided into three rooms, as well as an executive board room. In addition to the business center, the property features a heated outdoor pool and whirlpool, fitness center, restaurant and bar. The Hampton Inn and Suites opened in 2009 offers 2,000 square feet of meeting space as well as a fitness center and an indoor pool and spa.
About MIG Real Estate
MIG Real Estate owns and operates a diverse portfolio of assets under management throughout Utah, Arizona, Nevada, Colorado, Washington, North Carolina, Florida, Wyoming, Edmonton-Alberta, Hawaii and multiple markets in California, Texas and Georgia. The company is currently engaged in an aggressive expansion strategy, seeking "core-plus," "value-add" and "opportunistic" investments in select-service hotels, grocery-anchored shopping centers, office, industrial and multifamily properties. MIG Real Estate has acquired approximately nine million square feet of property, totaling more than $1.5 billion of assets since April 2009. Additional information is available at https://www.migcap.com/RealEstate.
Contact:
Megan Barry
megan@ideahall.com
714-263-8736
Jillian Hunt
jillian@ideahall.com
714-263-8743
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