HREC Arranges Sale of Hyatt Place Mesa, Arizona
DENVER, CO. and PHOENIX, AZ. April 24, 2017 - HREC Investment Advisors is pleased to announce it has arranged the sale of the 152-guestroom Hyatt Place Phoenix Mesa located in Mesa, Arizona to an affiliate of Summit Hotel Properties, Inc. Summit Hotel Properties is a publicly-traded real estate investment trust that primarily owns premium-branded, select-service hotels in the upscale segment of the U.S. lodging industry.
Bill Murney, Senior Vice President in HREC Investment Advisors' Phoenix office, exclusively represented Mesa Hotels LLC during the transaction.
The Hyatt Place is one of only two purpose-built Hyatt Places in Arizona.
Strategically positioned in the Mesa Riverview Shopping Center near the Loop 101 and Loop 202 interchange, the Hotel is proximate to the surrounding area's primary demand generators. Adjacent to the Hotel is a variety of shopping, dining, and entertainment options, including Bass Pro Shops, and the Cinemark movie theater. The Hyatt Place is within walking distance to the Chicago Cubs Spring Training Stadium & just a few miles to the Oakland A's Hohokam Stadium. The Hyatt Place is also just 10 minutes from the Phoenix Sky Harbor Airport.
About HREC®: HREC® is the nation's leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.
For addition information on the property, please contact:
Bill Murney
Senior Vice President
bmurney@hrec.com
602.279.8427
Scott Stephens
COO & Senior Principal
sstephens@hrec.com
813.635.0600
Ashley Hunt
Director of Marketing
ahunt@hrec.com
303.267.0057
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