HREC Investment Advisors arranged the sale of The Inn at The Finger Lakes, a 77-room property located in Auburn, N.Y. TJ Hospitality acquired the property.
Mark von Dwingelo, SVP in HREC Investment Advisors’ Connecticut office, and Pat Culligan, principal in HREC Investment Advisor’s Memphis office, exclusively represented FLH Development during the transaction.
“This transaction came about due to one group wanting to exit a market that another group wanted to enter. Both groups involved achieved their goals,” von Dwingelo said in a statement.
The property is located in the Finger Lakes region known for its hundreds of vineyards and wineries, historical attractions, parks and recreational activities. Auburn is home to over 27,000 residents, and is located north of Owasco Lake, approximately 28 miles west of Syracuse, N.Y., and 120 miles east of Buffalo, N.Y.
The hotel offers guests a complimentary breakfast and even wine stating, free high-speed wireless Internet access, laundry facilities, daily newspaper and meeting facilities suitable for up to 25 people. The property recently renovated its lobby, eating area and guestrooms, which come in queen, double queen and junior suite configurations.
HREC is a lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals) and litigation support.