ATLANTA, GA – Peachtree Hotel Group has acquired a three-property hotel portfolio totaling 376 rooms.
The firm purchased the properties from Syracuse, NY-based Widewaters Hotels, which previously developed, owned and operated the hotels.
The hotels comprise the 137-room Aloft Hillsboro-Beaverton in Hillsboro, OR near Portland, which was built in 2017; the 120-room Home2 Suites by Hilton Eugene Downtown University Area in Eugene, OR, which was built in 2016; and the 119-room Home2 Suites by Hilton Pittsburgh/McCandless in Pittsburgh, PA, which was built in 2013.
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The three properties are each situated in submarkets that benefit from a young average resident age and various corporate and education demand generators.
Boutique real estate capital markets advisor Hodges Ward Elliott led the marketing process for the portfolio and arranged the sale.
"The sale of these assets further demonstrates investor interest in the select-service category," says Clint Hodges, Hodges Ward Elliott managing director. "We were pleased to find a single buyer for this portfolio of well-built, premium hotels in growing Northeast and Northwest submarkets."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
