Hotel AG Sells Limited-Service Memphis Hotel - Hampton Inn, Memphis/Collierville, TN
Tom Huegel
Keith Thompson
Atlanta, GA May 17, 2010 – Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated the sale of the Hampton Inn located in Collierville, Tennessee on behalf of Collierville Hotels GP. The property sold to SGR, LLC for an undisclosed amount. Tom Huegel, vice president of Hotel AG stated, “This was a straight forward arms-length transaction with a local business entity that involved a traditional loan which is very uncharacteristic in today’s market. “
 The Hampton Inn is a three-story, 91-room hotel constructed in 1997. Located off East Poplar Avenue, the property is situated on 2.23 acres and is located in the upscale community of Collierville, approximately 17 miles from downtown Memphis. The new owner plans to undergo an extensive renovation to the property to satisfy brand standards and to reposition it more competitively in the market. About Hotel AG Headquartered in Atlanta, Georgia, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has approximately 96 hotels on the market in 29 states totaling over 11,000 rooms. |
