ATLANTA – November 29, 2010 – Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated the sale of a Florida Hilton Hotel Portfolio located in West Palm Beach, Florida. The portfolio consists of a 100-room Hilton Garden Inn and a 105-room Hampton Inn and was sold on behalf of Worthington Hospitality, LLP and Australian Ave Hospitality, LLP, respectively. The property sold to RLJ Real Estate Fund III Acquisitions, LLC for an undisclosed amount.
“This was a very targeted effort that involved premium select-service assets and a singular purchaser that we knew had the ability and inclination to get this difficult transaction completed,” Tom Huegel, vice president of Hotel AG stated. “A number of hurdles had to be crossed to get this completed and it took great patience and perseverance from both buyer and seller to get it done.”
Located at the Palm Beach International Airport in West Palm Beach, Florida, the hotels are some of the finest Hilton select-service properties in the Southeast Region.
About Hotel AG
Headquartered in Atlanta, Georgia with 16 national offices, 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 147 hotels on the market in 33 states valued at 1.2 billion. Hotel AG can be found online at www.hotelassetsgroup.com.