HREC Investment Advisors announced the sale of the 80-guestroom Comfort Inn Buckhead North located in Atlanta, Georgia. The property was acquired by Atlanta based Wessex Hotels, LLC.
HREC is a lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. It has 16 offices throughout North America.
Tom Huegel, senior vice president in HREC Investment Advisors’ Atlanta office, exclusively represented PHP Enterprises during the transaction. “This transaction was the result of a buyer coming to us with a request to specifically seek out a possible purchase of the Comfort Inn and from there, we were able to put buyer and seller together in a deal structure that worked for both parties. In the market we are in today, this type of direct-sourced deal will likely become more prevalent and is a smart strategy for buyers to consider as the market continues to have a dearth of quality acquisition opportunities on the open brokerage market,” commented Huegel.
The Comfort Inn is located directly along the I-285 N Perimeter at Roswell Road in Sandy Springs.
Image courtesy: © Choice Hotels International, Inc.