JUST SOLD: Portfolio of 3 Mid-Market Extended-Stay Hotels
May 20, 2021
Lodging Partners has announced the sale of 3 mid-market extended-stay hotels, the Affordable Corporate Suites located in Concord, NC, Statesville, NC, and Kannapolis, NC. Ford C. Barton, Principal of Lodging Partners, coordinated the marketing and negotiations on these transactions.
This portfolio of extended stay hotels located across multiple markets in North Carolina provides the Buyer significant in-place cash flow in good growth markets.
We continue to see strong investor interest in hotels throughout the Carolina region and remain bullish on the long-term secular trends in our industry. Lodging Partners has multiple other properties under contract and, provided the recovery remains consistent, we believe 2021 should be a healthy year for hotel transactions.
If you own a hotel in the Southeast and would consider offers to purchase your property, now is an incredible time to explore your options before the potential change in capital gains tax. Lodging Partners is seeing high levels of interest from Buyers seeking hospitality investments in all sizes, areas, and price ranges.