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| Residence Inn Tuscaloosa, a 111-key hotel in Tuscaloosa, AL |
WASHINGTON, DC – JLL Capital Markets has arranged the sale of Home2Suites by Hilton, a 103-key hotel in Blacksburg, Virginia, and the sale of the Residence Inn Tuscaloosa, a 111-key hotel in Tuscaloosa, Alabama. The prices were not disclosed.
JLL represented
the seller, KM Hotels, and procured the buyer, Mission Hill Hospitality.
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| Home2Suites by Hilton, a 103-key hotel in Blacksburg, VA |
Home2Suites by Hilton in Blacksburg is located at 1321 Rugby Ln., which is nestled in the scenic New River Valley and surrounded by the Blue Ridge and Alleghany Mountains. The property is under a mile from Virginia Tech University and 15.5 miles from Radford University.
. Located at 211 Rice
Mine Rd. Loop, the Residence Inn Tuscaloosa is situated along the banks of the
Black Warrior River, a short drive from downtown and the University of Alabama.
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| Ketan Patel |
Patel stated “I would like to thank KM Hotels for once
again allowing us to represent them and also appreciate yet another seamless
transaction from Mission Hill.
"This deal and others we have closed recently in
the select service/extended stay space show that demand is still robust for
similar type assets and we can achieve great results for our clients despite
the market headwinds.”
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| Alleghany Mountain range, West VA |
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide.
The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments.
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| Blue Ridge mountains, Virginia |
For more news, videos and research resources, please
visit JLL’s newsroom.
Contact:
Alli Semans
Public Relations, Associate
Phone: +1
330 329 6750
Email: Alli.Semans@jll.com
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