ALBUQUERQUE- HREC Investment Advisors closed the sale of the 276-guestroom Sheraton Albuquerque Airport Hotel in Albuquerque, New Mexico. The Sheraton is the only lodging facility located on airport grounds at the Albuquerque International Sunport Airport.

"The acquisition offered the buyer an opportunity to acquire a recently converted Sheraton on the Albuquerque airport property at a price substantially less than replacement cost," said Bill Murney, Senior Vice President with the HREC Phoenix office.

The Hotel is located approximately five miles southeast of downtown Albuquerque, two miles south of the University of New Mexico and eight miles west of Kirtland Air Force Base.  Due to its location, the Hotel is well situated to attract and accommodate corporate, university, military, government, and leisure transient demand.

"This transaction represents one of two recent high-profile deals in Albuquerque in 2013 for HREC," added Mike Armstrong, Principal in HREC's' San Diego office.  "Given our recent transaction experience in Albuquerque and sales history throughout New Mexico, we were able to access motivated investors which ultimately led to a successful sale."

HREC is a lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting, and litigation support.