Hunter Hotel Advisors announced yesterday that the firm recently advised on the sale of the 148 guestroom Marriott Courtyard situated along Beach Boulevard in Gulfport, MS.
Hunter exclusively represented Gulfview, LLC as the seller and arranged the sale of the asset to Schulte Hospitality.
“The buyer was attracted to the strength of the Marriott brand and the beachfront location,” said Teague Hunter, president of Hunter Hotel Advisors. “The buyer has full-scale renovation plans for the 5-story property and will represent Courtyard’s newly announced prototype for its brand.”
“At Hunter, accelerated closings have become a new standard, as demonstrated by this asset closing in just 47 days,” said Trey Scott, vice president of Hunter. “The strong economy and availability of financing have aided in the ability to expedite the sales process.”
The Courtyard is just east of the Gulfport Harbor and Marina and Highway 49, and is ideally situated at the primary entrance into the Gulfport area.
Hunter’s seven brokerage offices specialize in select and full-service hotels and currently represent more than 100 hospitality assets nationally, and approximately 7 hotels are scheduled to close by the end of the month. Hunter’s Capital Market group anticipates closing on more than $150 million in debt and equity financing by the end of the year.
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