Jones Lang LaSalle Hotels’ Select Service Division Announces Sale of Ashford Suites Hotel in Greensboro, NC (United States)
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Jones Lang LaSalle Hotels’ Select Service Division Announces Sale of Ashford Suites Hotel in Greensboro, NC (United States)
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Category: North America & West Indies / Carribean islands - United States - Industry economy -
New brands / Affiliations
This is a press release selected by our editorial committee and published online for free on 2010-01-12
Transaction Signals Investor Interest in High-Quality Select Service Assets with Assumable Debt
On behalf of Jorgenson Companies, Jones Lang LaSalle Hotels’ select service division is pleased to announce the sale of the Ashford Suites Hotel in Greensboro, NC to BPR Properties.
The 81-room property is strategically located in the heart of the Piedmont Triad Region at the entrance to the 1,100-acre Piedmont Centre Office and Industrial Park, just three miles from the Piedmont Triad International Airport. The asset features 2,400 s.f. of meeting space, a fitness center and indoor swimming pool, and benefits from recent capital improvements.
“The acquisition of this hotel provided the buyer the opportunity to acquire a well-maintained, cash-flowing property with in-place assumable debt,” said Ros Mallory, senior vice president for Jones Lang LaSalle Hotels. “Ashford Suites is in outstanding physical condition and well-positioned to compete with the branded select service hotels in the local market.”
"Jones Lang LaSalle Hotels worked very hard to market this performing hotel in a very challenging market, and they were able to identify a buyer that recognized the value of the asset," said John M. Jorgenson of Jorgenson Companies, LLC.
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