Avison Young Hospitality Group Announces Recent Closings
May 10, 2017 9:00am
ATLANTA – May 10, 2017 – The Avison Young Hospitality Group announced today that it has brokered the transaction of a full service Crown Plaza in North Charleston, South Carolina and a full service hotel in the Upper Midwest. Chris Stark, Michael Bernath, Rick George and Mike George represented Avison Young in both deals.
The Avison Young Hospitality Group currently has 17 additional hotel transactions scheduled to close in the next five weeks and a total of 43 over the next several months. The planned closings are located across all U.S. regions and include most major hospitality brand families.
“These last two closings represent buyers’ desire for well-located full service hotel assets,” said Brad Sinclair principal at Avison Young. “We are seeing closure on the bid-ask spread for serious sellers and we see the transaction market being strong for the balance of 2017.”
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Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,400 real estate professionals in 79 offices providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.
Contact: Mike Rieman
Avison Young Hospitality Group is a national hotel practice group supported by 70 North American office locations and 2300 people. The firm currently has 202 hotels on the market totaling 3.3 billion in market value and for the past four years, the firm has been involved in one hotel transaction every five days. Avison Young Hospitality Group specializes in select service and full service hotels within the U.S. and works with CMBS lenders, whole loan banks, REITs, public companies, investment funds and private investors. The hospitality group can be found at www.avisonyoung.com under the “services” tab.
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