HFF announces Sale of and Financing for 9-state 13-property Courtyard Hotel Portfolio


Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and the acquisition financing placement for a 13-property portfolio of Courtyard by Marriott hotels totaling 1,913 rooms in Alabama, Arkansas, Arizona, Florida, Illinois, Kentucky, Ohio, Oklahoma and Virginia.

The HFF team marketed the properties on behalf of the seller, Clarion Partners, LLC. Canada-based Skyline Investments purchased the portfolio unencumbered of the existing management contract and with a new 20-year Marriott franchise agreement. Additionally, working on behalf of the new owner, the HFF team placed the five-year, floating-rate loan with a global investment bank.

The portfolio properties are located in Midwest, Southeast and Southwest markets: Birmingham and Huntsville, Alabama; Little Rock, Arkansas; Tucson, Arizona; Fort Myers, Florida; Chicago, Illinois; Lexington, Kentucky; Dayton and Toledo, Ohio; Oklahoma City, Oklahoma; and northern Virginia. The properties were completed between 1985 and 1989 and feature a variety of amenities, including an outdoor or indoor swimming pool, 24-hour business center, on-site bistro, fitness center, meeting space, sundry shop, shuttle service and lobby theater with lounge seating.

The HFF investment advisory team representing the seller included senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director John Bourret and director Austin Brooks along with managing director Marty O'Connell, a licensed Kentucky real estate broker.

The HFF debt placement team representing the borrower was led by director De’On T. Collins.

HFF, acting by and through Holliday GP Corp., is a commercial mortgage broker licensed with the Arizona Department of Financial Institutions, License Number CMB 0938500 and NMLS Number 1524298.

HFF, acting by and through Holliday GP Corp., is an Oklahoma licensed real estate broker.

About Clarion Partners

Clarion Partners, LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 35 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, D.C. With more than $43 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 300 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.

About Skyline Investments Inc.

Skyline Investments Inc. (“Skyline”) is a Toronto, Canada-based investment company incorporated since 1998. Currently, Skyline is traded on the Tel Aviv Stock Exchange (SKLN.TA) and has assets totaling approximately $500M including significant cash-flow hotel and resort land properties. Skyline performs select land development around its resorts. Visit http://www.skylineinvestments.com for more information.

About HFF

HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

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