Three Sonesta properties have been sold to a Michigan-based owner/operator in a deal brokered by HREC Investment Advisors. The Michigan hotels involved in the transaction were the 94-room Sonesta Simply Suites Detroit–Novi; the 122-room Sonesta Select Detroit–Novi; and the 148-room Sonesta Select Detroit–Auburn Hills. HREC Investment Advisors exclusively represented an affiliate of hotel REIT Service Properties Trust as the seller in this transaction.
“This successful transaction on behalf of one of HREC’s most important clients further evidences the industry-leading platform of our firm, where our large geographic footprint adds value,” said Monty Levy, managing director, Atlanta, HREC, in a statement.
Jeff Preston, SVP, Detroit, HREC, added: “We were delighted to achieve strong pricing for our client on these trades while at the same time successfully transacting with one of Michigan’s leading hotel companies.”
The Sonesta Simply Suites–Detroit Novi and Sonesta Select–Detroit Novi are located off Novi Road and Interstate 96, with access to the Suburban Showplace Center, Twelve Oaks Mall, Ascension Providence Hospital, Interstate 696, downtown Detroit, and several other demand generators. The Hotels are located near various businesses, including Harman International, Ryder Systems, ITS Holding Corp, Cooper Standard Automotive, and Rapita Systems. For leisure travelers, the hotels are less than a mile from Twelve Oaks Mall, nearby Maybury State Park, two golf courses, and Oakland Hills Memorial Gardens.
The Sonesta Select-Detroit Auburn Hills is located off Interstate 75, providing access to several demand generators. Auburn Hills is located less than 30 miles north of downtown Detroit and the United States/Canada border. The Auburn Hills immediate area is home to Chrysler’s headquarters, three hospitals, Oakland University, an amphitheater, a community college, and a 185 storefront outlet mall.