HREC Arranges Sale of DoubleTree Suites SouthPark Hotel
November 5, 2014
HREC Investment Advisors (www.hrec.com) is pleased to announce it has arranged the sale of 208 all-suite DoubleTree Suites SouthPark Hotel located in the exclusive SouthPark submarket in Charlotte, North Carolina, on behalf of a subsidiary of FelCor Lodging Trust (www.felcor.com).
Monty Levy (SVP – Atlanta), Bill Murney (SVP – Phoenix) and Scott Stephens (COO and Senior Principal – Tampa), exclusively represented the seller in the transaction. The purchaser, Southwest Value Partners (www.swvp.com), is a private real estate investment firm that focuses on commercial, hospitality, residential land, and multi-family residential units. Dimension Development Company has been retained by Southwest Value Partners to manage the Property.
“We are delighted to yet again have successfully represented FelCor in the disposition of one of their hotel assets,” noted Murney. He added that “this was our third successful disposition for FelCor this year.” Added Levy, “the DoubleTree Suites SouthPark is the best located hotel in the highly-desirable SouthPark submarket.”
The DoubleTree retains a strategic location in relation to major demand generators located within the SouthPark submarket and the City of Charlotte. The Property is conveniently located adjacent to the SouthPark Mall, which attracts over 14 million visitors annually. SouthPark is also considered Charlotte’s premier high-end office and residential area and one of the largest business districts in Charlotte and the state of North Carolina.