Hunter Hotel Advisors announced the sale of the 109-guest room Fairfield Inn in Ann Arbor, Michigan. Hunter represented one of the nation’s largest commercial real estate groups in the transaction of the hotel. A private investor purchased the four-story interior corridor hotel and has significant renovation plans for the property.
“This was an attractive acquisition because of the proximity to the University of Michigan and the strength of the Marriott brand”“This was an attractive acquisition because of the proximity to the University of Michigan and the strength of the Marriott brand,” said Teague Hunter, president of Hunter Hotel Advisors. “This was a very clean transaction and both parties were very pleased with the process.”
Hunter’s seven brokerage offices specialize in select and full-service hotels and currently represent more than 100 hospitality assets nationally, and approximately 14 hotels are scheduled to close by the end of the quarter. Hunter’s Capital Market group is anticipating closing on more than $150 million in debt and equity financing by the end of the year.
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