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| 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.
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| 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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