HREC Investment Advisors arranged a portfolio sale of three Hampton Inn & Suites Hotels and one parking garage in downtown New Orleans. As a package, the hotel portfolio totals 598 upscale select service hotel rooms. Specifically, the New Orleans portfolio includes the 288-unit Hampton Inn and Suites – Convention Center; the 210-unit Hampton Inn and Suites – Downtown/French Quarter Area; the 100-unit Hampton Inn – Garden District/St. Charles Avenue; and the 529-space EZ Park Garage.
The HREC team on the transaction included Paul Sexton (VP - Orlando), Geoff Davis (President - NYC), Scott Stephens (COO- Tampa) and Mike Cahill (CEO & Founder - Denver) in cooperation with Hayden Wren of the New Orleans' based brokerage firm Corporate Realty, Inc.
The selling investment group was represented by Highpointe Hotel Corporation. The hotels were and will continue to be operated by Highpointe.
The purchaser of the hotel was an entity related to a major international equity fund.