Hunter Hotel Advisors announced today that the firm recently advised on the sale of the 148-room Courtyard by Marriott locayed along Beach Boulevard in Gulfport, Miss. Hunter represented seller Gulfview and arranged the sale of the asset to Schulte Hospitality.
The buyer will renovate the five-story property to represent Courtyard’s newly announced prototype for its brand.
“The buyer was attracted to the strength of the Marriott brand and the beachfront location,” said Teague Hunter, president of Hunter Hotel Advisors.
“At Hunter, accelerated closings have become a new standard, as demonstrated by this asset closing in just 47 days,” said Trey Scott, VP of Hunter. “The strong economy and availability of financing have aided in the ability to expedite the sales process.”
The Courtyard is just east of the Gulfport Harbor and Marina and Highway 49, and is ideally situated at the primary entrance into the Gulfport area.
Hunter’s Capital Market group anticipates closing on more than $150 million in debt and equity financing by the end of the year.