HREC arranges sale of DoubleTree in Charlotte, N.C.

HREC Investment Advisors arranged the sale of 208 all-suite DoubleTree Suites SouthPark Hotel located in the SouthPark submarket in Charlotte, N.C., on behalf of a subsidiary of FelCor Lodging Trust.

Monty Levy (SVP - Atlanta), Bill Murney (SVP - Phoenix) and Scott Stephens (COO and Senior Principal - Tampa), represented the seller in the transaction. The purchaser, Southwest Value Partners, 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.

The DoubleTree retains a location in relation to major demand generators located within the SouthPark submarket and the City of Charlotte. The Property is located adjacent  to the SouthPark Mall, which attracts over 14 million visitors annually.