DENVER, Colorado; ATLANTA, Georgia—HREC Investment Advisors announced that it arranged the sale of the 101-room Hampton Inn & Suites Prattville, located in Prattville, Alabama. Sage Lane Partners and ARK Holdings acquired the property in a joint venture for an undisclosed sum from Williams Hotels.
HREC Investment Advisors exclusively represented Williams Hotels on this transaction. The marketing and negotiations were led by Michael Salloway (senior vice president), Tom Huegel (senior vice president), and Monty Levy (managing director and Alabama broker of record), all located in HREC’s Atlanta office.
“This was a very exciting transaction as it represents the turning of a new page for both the buyer and seller. The Hampton Inn & Suites Prattville is the first property acquired for Sage Lane’s portfolio, and this was the seller’s final hospitality property. I wish them both the best of luck in their next chapters,” expressed Salloway.
Hotel guests are within walking distance of various dining spots and shopping outlets, including Bass Pro Shops. The hotel is also a short drive from the Capitol Hill Golf Course, part of the Robert Trent Jones Golf Trail, and Maxwell Air Force Base.
“The Hampton Inn & Suites Prattville is the ideal acquisition for Sage Lane Partners,” said Bhavnesh Vivek, managing partner with Sage Lane Partners. “We are actively seeking well-branded hotels in secondary and tertiary markets with multiple demand generators with upside potential we are confident we can unlock through property improvements, as well as the installation of our proprietary management and marketing systems. The HREC team was a pleasure to work with, providing the answers and solutions we needed in a timely and professional manner.”
