Done Deals: HFF closes sale of suburban Atlanta and Pittsburgh hotels on behalf of GE Real Estate

Friday, July 25, 2008

HFF closes sale of suburban Atlanta and Pittsburgh hotels on behalf of GE Real Estate

MIAMI, FL – HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of the DoubleTree Hotel Roswell (above centered photo) in Roswell, Georgia and the Embassy Suites Hotel Pittsburgh International Airport (bottom left photo) in suburban Pittsburgh, Pennsylvania. HFF exclusively represented the seller, GE Real Estate in the transaction.

The HFF investment sales team was comprised of senior managing director Dan Carlo (top right photo) and managing directors Patrick Poggi (middle right photo) and Mark Popovich (top left photo), Associate director Jaret Turkell and real estate analyst Ann Marie Milan assisted on the transaction.

National Hospitality Holdings purchased the hotels for an undisclosed price free and clear of debt. The properties were part of a larger five-property portfolio being marketed for sale by HFF’s hotel group.

Renovated in 2004, The DoubleTree Hotel Roswell has 172 guest rooms and 12,000 square feet of meeting space in a “Southern mansion-style” hotel design.

“The property is located in Roswell, midway between the Perimeter and Windward business parks, which are among Atlanta’s most prominent and fastest-growing business nodes,” said Poggi.

Embassy Suites Hotel Pittsburgh International Airport is located Route 60, proximate to

Pittsburgh’s International Airport. The property has 223 guest rooms, 13,650 square feet of meeting space and was extensively renovated in 2004.

“Both the DoubleTree Roswell and the Embassy Suites Pittsburgh offer excellent opportunities for increased performance because of the planned capital expenditures,” added Poggi.

GE Real Estate (www.gerealestate.com) is one of the world’s premier commercial real estate companies with more than $79 billion in assets and a presence in 32 countries throughout North America, Europe, Asia and Australia/New Zealand.

GE Real Estate offers a comprehensive range of capital and investment solutions including equity capital for acquisition or development, as well as fixed- and floating-rate mortgages for new acquisitions or recapitalizations of commercial real estate.

National Hos

pitality Holdings LLC is an investor, asset manager and advisory firm specializing in the hospitality industry. With an emphasis on hotels, and most recently casinos, NHH provides institutional-grade operational and financial experience at the senior level.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.