HREC appoints VP, opens N.J. office

New HREC VP Phil White has worked on multiple hotel investment sales transactions throughout the Northeast, including that of the Hampton Inn & Suites Hershey (Pa.). Photo credit: Hilton

Lodging and gaming real estate advisory firm HREC Investment Advisors promoted Phil White from senior associate to VP. White will focus on hospitality brokerage at the company’s newly opened office in Jersey City, N.J.

“HREC’s second office within the New York City metropolitan area will allow for improved client services related to asset transactions and mortgage brokerage,” White said in a statement. “At this point in the economic cycle, New York City should continue to see an increase in transaction volume with owners seeing enhanced values, thus allowing HREC the ability to be on the forefront of NYC transactions.”

White brings nearly four years of industry transactional experience to his new role. At HREC, he has analyzed more than 325 lodging properties, valued at a total of more than $6 billion and resulting in the successful disposition of $1 billion in hotel assets.

 “Team HREC is thrilled Mr. White is continuing his professional career with us,” Mike Cahill, HREC’s CEO/founder, said in a statement. “Phil has become an integral part of our team and will become a strong force in hotel brokerage in the Northeast.”

HREC specializes in property sales, mortgage brokerage, equity/joint venture structuring, consulting and litigation support. It has 17 offices throughout North America.