HREC Investment Advisors arranged the sale of the 98-room Nathan Hale Inn & Conference Center located in Storrs, Conn. on the campus of the University of Connecticut (UCONN). The University of Connecticut (UCONN) purchased the property.
Ketan Patel (SVP – Washington D.C.) and Geoff Davis (president & senior principal – New York) exclusively represented the seller during the transaction.
“The Hotel generated significant interest from investors given its on campus location and in a market that has significant barriers to entry and no other hotels," said Ketan Patel. "Ultimately the growth of UCONN and need for on campus housing persuaded the University to go ahead and purchase the Hotel.”
“Several hotel investors made offers and we were able to work through some complex issues to make sure the asset ended up in good hands," said Geoff Davis. "It will likely continue to operate as a hotel in the near term, but also gives the school options when it comes to meeting their student housing needs.
Storrs is part of the town of Mansfield and home to UCONN. The Town of Mansfield is located in eastern Tolland County only 20 miles outside of downtown Hartford, and is considered part of the greater Hartford metro area. Surrounding towns include Ashford, Chaplin, Coventry, Tolland, Willington and Windham. Tolland County is bordered by Hartford County to the west, New London County to the south, Windham County to the east, and the state of Massachusetts to the north.