for immediate release
Thursday, January 9th, 2014
HREC Investment Advisors Arranges the Sale of the
Hilton Phoenix Airport Hotel – Phoenix, Arizona
(Denver, Colorado; Phoenix, Arizona) – HREC Investment Advisors is pleased to announce it has arranged the sale of the 257-guestroom Hilton Phoenix Airport Hotel in Phoenix, Arizona.
Bill Murney, Senior Vice President in HREC Investment Advisors’ Phoenix office and Scott Stephens, COO & Senior Principal in the Tampa office, exclusively represented the seller during the transaction.
The Hotel is located adjacent to Phoenix Sky Harbor International Airport, three miles west of downtown Tempe and Arizona State University, and eight miles east of downtown Phoenix. The Hotel maintains superior exposure to lodging demands generated around the PHX airport, the nation’s 8th busiest airport. Furthermore, the property’s location in the epicenter of the Phoenix metro area, has excellent visibility and accessibility to the entire Phoenix metro freeway system, providing easy access to the entire valley as well as the convention center and sports venues in downtown Phoenix and the entertainment venues in downtown Tempe.
“The property will undergo a multimillion dollar comprehensive renovation in 2014 to position if for the hotel market improvements in the valley. With the Super Bowl in February 2015 and the NCAA national championship game in January 2016, the renovated Hilton will be well-positioned to do exceptionally well,” stated Murney.
“This transaction further cements our position as the leading hospitality investment banking firms in the southwest,” added Stephens.
About HREC: HREC is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With 14 offices throughout North America, HREC is distinguished by unwavering commitment to client service through its team approach, intellectual capital and hotel/casino specialization.
For additional information on the property, please contact:
Visit HREC’s website at www.hrec.com