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| Danny Meikleham |
BOSTON, MA - HFF announced it has closed the
sale of the Crowne Plaza Pittsburgh South, a 179-room hotel across from
the South Hills Village Mall in Pittsburgh, Pennsylvania.
HFF marketed the property exclusively on behalf of
the SageCrest Liquidating Trust, represented by its liquidating trustee, Jack
D. Huber, and portfolio director Christopher T. Brown, both managing
directors of SOLIC Capital, LLC.
Oxford
Development Corporation purchased the hotel unencumbered with management for
$6.1 million.
The Crowne Plaza Pittsburgh South is situated on a
5.4-acre site at 164 Fort Couch Road in Pittsburgh’s South Hills area, which is
10 miles from downtown.
This places the hotel near demand drivers
such as Southpointe Office Park as well as leisure destinations including PNC
Park, Station Square, Heinz Field and Rivers Casino, among others.
 |
| Mark Popovich |
The
property has 13 suites and 13 extended stay suites in addition to the guest
rooms. Hotel amenities include an outdoor pool, fitness center and business
center. The hotel also features 15,000
square feet of meeting space throughout 10 rooms.
The HFF investment sales team representing the
seller was led by managing director Denny Meikleham, senior managing
director Mark Popovich and senior real estate analyst Alan Suzuki.
SOLIC Capital, LLC provides financial advisory,
principal investing and distressed asset management for middle-market
companies. www.soliccapital.com
For 50 years, Oxford Development Company has
stood at the forefront of the marketplace as a developer and full service
commercial real estate provider with experience in the local, regional and
national marketplace.
 |
| Jack D. Huber |
Its portfolio in
the specialty asset classes of healthcare, and sports and entertainment
projects alone consists of $1.2 billion in development management and
construction. All told, the firm has provided project management services for
clients on projects totaling over $9 billion.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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