Hodges Ward Elliott Announces Successful Hotel Sale
Hodges Ward Elliott (HWE), known for its expertise in real estate capital markets, recently facilitated the sale of the Residence Inn Baltimore White Marsh. This 131-suite extended-stay hotel is strategically located in a bustling commercial area, making it a valuable asset in the hotel market.
Details of the Transaction
The sale involved an affiliate of American Hotel Income Properties REIT LP. The exceptional team of Clint Hodges and Nate Ries represented the seller during this important transaction. Their extensive experience in the industry was evident as they navigated the competitive landscape of the hotel real estate market.
Location and Amenities of the Residence Inn
The Residence Inn Baltimore White Marsh boasts 131 suites spread across four floors. Guests have access to a variety of amenities including a well-equipped fitness center, an outdoor pool, a sports court, and a meeting room. Moreover, complimentary breakfast service enhances the guest experience.
Situated within the White Marsh Town Center, the hotel is conveniently located less than 15 miles from Downtown Baltimore. This prime location allows immediate access to major retail amenities and over 19 million square feet of surrounding industrial and office space.
Year-Round Demand and Diverse Clientele
This property benefits from stable, year-round demand from various travelers, including corporate clients, government personnel, and sports and leisure visitors. Notably, its appeal creates a reliable seven-day-per-week lodging market. This consistent demand highlights the strong positioning of the hotel within its market corridor.
Market Response and Seller's Trust
Nate Ries from HWE commented, "The competitive response we observed for this offering reflects not just the Residence Inn brand's strength but also the demand from buyers seeking extended-stay hotel opportunities."
Clint Hodges also expressed gratitude for the trust extended by the seller. He stated, "It was a pleasure to guide this transaction, and we are eager to see how the new owner capitalizes on the property's potential for success."
About Hodges Ward Elliott
Hodges Ward Elliott stands out as a premier boutique real estate capital markets advisor. With a multi-disciplined platform, it operates well in hotel investment sales and debt capital markets. The company has offices in key markets, including Atlanta, Dallas, Denver, Los Angeles, New York, Miami, Orlando, Nashville, and London.
Being a privately held company, HWE is dedicated to nurturing long-term client relationships. They take pride in their reputation and track record established over their 50 years of operation. With over $100 billion in transactions closed, including $50 billion post-2015, their extensive experience sets them apart in the hotel real estate landscape.
Frequently Asked Questions
What was sold by Hodges Ward Elliott?
Hodges Ward Elliott successfully sold the Residence Inn Baltimore White Marsh, a notable extended-stay hotel.
Who represented the seller in the transaction?
Clint Hodges and Nate Ries from HWE represented the seller during the transaction.
What amenities does the Residence Inn offer?
The Residence Inn offers amenities like a fitness center, outdoor pool, sports court, meeting room, and complimentary breakfast services.
What is the significance of the hotel's location?
Its location offers access to major retail amenities and surrounding corporate and industrial spaces, making it ideal for various travelers.
How long has Hodges Ward Elliott been in business?
Hodges Ward Elliott has over 50 years of experience in the real estate capital markets, making it a reputable advisor in their field.
