Hunter Realty Brokers Six Hotels in Six Weeks

ATLANTA, July 28, 2009—Officials from Hunter Realty, a leading national hotel investment services firm, today announced that the firm brokered the sale of six properties in six weeks.

The six hotels, aggregating 693 rooms, are located in Georgia, Alabama, Pennsylvania and Maryland, and comprise independent hotels as well as such brands as Holiday Inn, Comfort Inn, and Days Inn.

“We are beginning to see more distressed hotels coming to the marketplace, including several of these six completed sales, which were distressed hotels sold for banks,” commented Lee Hunter, (top right photo) CHB, ISHC and COO, Hunter Realty. “We expect this trend to gain momentum over the next 12 to 18 months.”

“The hotel industry has been through five recessions since 1973,” said Bob Hunter, (middle left photo) the firm’s founder and CEO. “We have advised banks, lenders, special servicers and hotel owners in each of these difficult economic climates.

"Based on our experience, these transactions require an in-depth understanding of hotel pricing and financing, as well as the ability to create a win-win situation for both the buyer and seller.”

“Transactions under $10 million began to show signs of loosening up late in the first quarter,” said Teague Hunter, (bottom right photo) CHB, president, Hunter Realty.

“However, deals involving hotels valued above $10 million are still a challenge because financing is not readily available. Buyers today are very cautious and selective and demand good value. In the $10-plus million segment, transactions still remain few and far between.”

“Financing for these six hotels was varied and ranged from all-cash to community banks and SBA loans,” Teague Hunter added. “A prior, strong relationship with the bank was necessary to complete the transactions.”

Teague Hunter noted that the firm increasingly is providing guidance on distressed hotels to lenders and special servicers. “We have conducted more Broker Opinions of Value in the past six months than we have in the past two years.”

Hunter Realty, founded in 1978, has offices in Atlanta, Washington, DC and Minneapolis, MN. Hunter’s exclusive focus is in hotel brokerage and financing.

For more information or to view current listings, please visit http://www.hunterhotels.net/ or contact us at 770-916-0300 in Atlanta, 301-215-7507 in Washington, DC or 952-837-6207 in Minneapolis.

Contact: Melanie Boyer, media, (703) 435-6293, Melanie@dalygray.com

Hunter Realty Says Transactions under $10 M Still Active

ATLANTA, GA, June 8, 2009—Officials from Hunter Realty, a leading national hotel investment services firm, today announced that they brokered the sale of the 152-room Days Inn Atlanta Six Flags (top right photo) here.

The property was acquired by East Coast Hotel Partners, LLC, which plans to renovate and convert the hotel to the Comfort Inn brand.

The seller was an institutional lender/owner. The REO property was financed with a SBA loan from an Atlanta bank.

“East Coast Hotel Partners, LLC is a well regarded owner/operator with multiple properties currently in its portfolio,” said Lee Hunter, (middle left photo) CHB, ISHC and chief operating officer, Hunter Realty.

“They have prior experience in the Atlanta market and believe the property has excellent profit potential, especially when the economy begins its expected rebound. The timing of this transaction will give them sufficient time to upgrade the hotel.

“East Coast Hotel Partners is typical of today’s buyer,” said Teague Hunter, (bottom right photo) CHB, president, Hunter Realty Associates, Inc.

“There are a substantial number of buyers on the sidelines who are selectively acquiring properties that they believe have significant upside potential. Even with the credit markets still in disarray, investors who have cash and a proven track record can obtain the financing to get deals done.

"We have been successful in helping buyers secure financing for hotels under $10 million through local and regional banks, as well as SBA and other government loan programs.

"While it is difficult to pick the bottom of the real estate cycle, we believe it is approaching and that a number of properties will be coming to market between now and year end. This first wave of investors historically generates better returns than those who invest later in the cycle.

“Our firm is doing more consulting now than at any time in the past five years,” he noted. “We are working with both buyers and sellers to develop appropriate strategies and timing in a very difficult market. There is a lot of pent-up demand that should begin to become more active as the year progresses.”

The seven-story Days Inn is located at 3900 Fulton Industrial Blvd., 1.5 miles from Six Flags amusement park, and convenient to the Georgia Aquarium (bottom left photo) World of Coke, and Turner Field.

The hotel features interior corridors, large outdoor swimming pool, and meeting space. Rooms offer 27-inch satellite televisions, high-speed wireless Internet access, coffee makers, microwaves and refrigerators.

Hunter Realty, founded in 1978, has offices in Atlanta, Washington, D.C. and Minneapolis, MN. Hunter’s exclusive focus is in hotel brokerage.

For more information or to view current listings, please visit http://www.hunterhotels.net/ or contact us at 770-916-0300 in Atlanta, 301-215-7507 in Washington, D.C. or 952-837-6207 in Minneapolis.

Contact: Melanie Boyer, media, (703) 435-6293, melanie@dalygray.com