FelCor sells Embassy Suites - Anaheim-North for $25.5M

FelCor Lodging Trust Incorporated has sold the 222-room Embassy Suites - Anaheim-North for $25.5 million to Urban Commons. FelCor will use the net proceeds to repay a portion of the $88-million balance on the CMBS loan that matures in 2013. As part of its long-term portfolio repositioning strategy, which includes the sale of 39 non-strategic hotels, FelCor is currently marketing nine hotels.

The REIT has sold 16 of the 25 hotels that it has brought to market since December 2010. HREC Investment Advisors represented FelCor in the transaction. FelCor owns 69 hotels, primarily upper-upscale and full service.

Virtual Event

Hotel Optimization Part 3 | Available On Demand

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event, now available on demand, for expert panels focused on getting you back to profitability.