DENVER, CO — HREC Investment Advisors has arranged the sale of the 117-guestroom Hampton Inn & Suites, located in Annapolis, MD. The buyer was Excel Group, a private equity group looking to continue its strategic growth in the DC metro area, according to the company.
Ketan Patel, SVP of HREC Investment Advisors’ Washington D.C. office, exclusively represented the seller, High Hotels, during the transaction. Patel stated, “The Hotel generated substantial interest from a variety of local and national investors. HREC was ultimately able to leverage their strong buyer relationships to produce a very competitive environment that allowed us to deliver the best pricing and terms for our client.”
The Hotel is located six miles away from both the U.S. Naval Academy and St. Johns College. The Maryland State House and Historic Downtown Annapolis are also nearby.