ATLANTA – August 8, 2011 – Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated the sale of the 103-room Hampton Inn & Suites located in Davenport, Iowa. The hotel was sold to Apple REIT Ten on behalf of Hawkeye Hotels for an undisclosed amount.
“This is the last transaction in a portfolio of hotels sold between Hawkeye Hotels and A
pple REIT Companies,” said Brad Sinclair, a vice president and partner for Hotel AG. “The buyer plans to do the necessary renovations and continue the strong performance at the hotel.”
The Hampton Inn & Suites is a four-story interior corridor property located just off Interstate 74 and less than a mile from Interstate 80.
About Hotel AG
Headquartered in Atlanta, Georgia with 19 national offices, Hotel AG is a specialized brokerage firm offering hotel-specific real estate and investment banking within the United States. The company conducts business with REITs, public and private companies, institutional clients and individual owner operators. Today Hotel AG has 129 hotels on the market in 33 states valued at $1.3 billion.