Friday, January 4, 2013

Hunter Closes 2012 with Sale of 150-Room Sheraton in Twin Cities Market


  
Sheraton-Woodbury Hotel, Woodbury, MN
 ATLANTA, GA and Woodbury, MN—Hunter Hotel Advisors announced today that it closed out 2012 with the sale of the 150-room Sheraton Woodbury located in the Twin Cities market. 

The firm represented the owner, Dougherty Funding, on the sale to Schulte Hospitality Group for approximately $14 million.  The five-story hotel, built in 2008, will retain the Sheraton flag.  Teague Hunter, President, led the Hunter team that represented the seller.

Teague Hunter
Located at the confluence of I-94 and I-494 on the eastern side of the metro area, the Sheraton Woodbury is proximate to a number of large office complexes, including 3M corporate headquarters.  Major amenities include an indoor swimming pool, fitness center, VIP floor and meeting space designed for small to mid-sized groups.

            “Full-service hotels like the Sheraton Woodbury have been largely off the market the past few years due to the poor economy and lack of available financing,” Hunter said.  “However, after several years of improving results for the hotel industry, we are listing more full-service properties and expect to see a significant upturn in full-service hotel real estate transactions in 2013.”
  
 For a complete copy of the company’s news release, please contact: 

Jerry Daly, media
 (703) 435-6293

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