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Small Hotel Sales Remain Strong

ATLANTA-Hunter Realty deals three Southeast properties for $28 million in the past week.

By Carl Cronan | Updated on December 03, 2008

ATLANTA-Despite a national slowdown in the number and size of sales transactions for hotels overall this year, the investment market for smaller properties appears active, according to locally based Hunter Realty Associates Inc. The brokerage, which focuses exclusively on hotels, says it closed three deals for more than $28 million in just the past week.

The sold hotels include a Best Western in Atlanta, a Comfort Inn & Suites in Birmingham, AL and a Courtyard by Marriott in Bristol, VA. Hunter Realty was the listing and selling agent in all three transactions.

“Despite the flood of negative economic news, transactions are and will continue to close,” says Lee Hunter, COO of Hunter Realty. This is especially true for deals valued at less than $15 million, he says.

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