Surging Economic Growth in Sacramento Drives Lodging Investment

JLL arranges sale of Courtyard by Marriott Sacramento Midtown

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. December 14, 2016

SACRAMENTO, CA. December 14, 2016 - Hotel investors have grown highly confident in Sacramento's lodging market as the city continues to experience double-digit RevPAR growth. JLL today announced the firm has arranged the sale of the leasehold interest in the Courtyard by Marriott Sacramento Midtown on behalf of a long-standing JV between value-add real estate investors CoreCapital of Irvine, California and Gaw Capital USA. MAG Hotel Group purchased the property, the company's second hotel acquisition this year. Twenty Four Seven Hotels was selected to manage the property.

Senior Vice President Mark Fraioli led the JLL team on the transaction.

“This transaction is evidence of the market's continued interest in well-performing, well-branded select service hotel assets,” said Fraioli. “With double-digit RevPAR growth and a revitalized urban core, Sacramento's lodging market is expected to thrive throughout the next real estate cycle.”

“We are proud to be part of the Marriott family and look forward to a prosperous relationship. We are confident that our strategic partnership with Twenty Four Seven Hotels will provide our guests with an excellent hospitality experience,” said Joseph A. Magliarditi, President/CEO of MAG Hotel Group.

The Courtyard by Marriott Sacramento Midtown features 139 guestrooms, more than 9,700 square feet of meeting space, an outdoor swimming pool and a fitness center. The hotel is situated adjacent to Sacramento's most prominent medical facilities - University of California Davis Medical Center and Shriners Hospitals for Children Northern California - and offers guests easy access to the downtown financial district.

JLL's Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $68 billion worldwide. Between negotiating property deals, the group's 350-person global team also closed more than 4,400 advisory, valuation and asset management assignments. To find out more visit: www.jll.com/hospitality

About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 60,000. On behalf of its clients, the company provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

About MAG Hotel Group:

MAG Hotel Group is a private hotel investment company that has extensive experience in hospitality and capital markets. Currently a licensed franchisee of Hilton Worldwide and Marriott International, the company is focused on high quality, flagged properties, with sustainable market positions.

Contact:
Maggie Nichols
[email protected]
+1 312 228 3837

Jessica Martin
[email protected]
+1 312 228 2983