Hodges Ward Elliott Arranges $305M Sale of Condor Hospitality Portfolio Across Sun Belt, Kansas
ATLANTA — Atlanta-based Hodges Ward Elliott (HWE) has arranged the $305 million sale of the real estate holdings of Bethesda, Md.-based Condor Hospitality Trust, including a portfolio of 15 select-service hotels located across the Southeast, Texas and Kansas. Daniel Peek, Clint Hodges, John Bourret, Austin Brooks, Mike Tormey and Carolina Bernal of HWE represented Condor Hospitality in the transaction. The buyer was not disclosed.
The Condor Hospitality Trust portfolio has an average age of less than 10 years and is affiliated with Marriott, Hilton and IHG brands. The hotel collection spans 1,908 rooms in total.
The Texas properties include: Home2 Suites Austin Round Rock in Austin; Residence Inn Austin Airport in Austin; TownePlace Suites Austin Parmer/Tech Ridge in Austin; SpringHill Suites San Antonio Downtown/Riverwalk Area in San Antonio and Fairfield Inn & Suites El Paso Airport in El Paso.
The portfolio also comprises hotels in Florida including Hampton Inn & Suites Lake Mary @ Colonial Townpark in Lake Mary; Courtyard Jacksonville Flagler Center in Jacksonville and Home2 Suites Tallahassee State Capitol in Tallahassee. The other properties include Aloft Atlanta Downtown in Atlanta; Hotel Indigo Atlanta Airport – College Park in Atlanta; Home2 Suites Summerville in Summerville, S.C.; Home2 Suites Lexington University/Medical Center in Lexington; Home2 Suites Memphis – Southaven in Southaven, Miss.; and Hilton Garden Inn Solomons in Dowell, Md. The lone Midwest property in the sold portfolio was Aloft Leawood-Overland Park in Leawood, Kan.