Global Hotel Group Buys GA Asset
Monty Levy and Shane Skubis of HREC Investment Advisors represented the seller in the disposition of the property, which is situated adjacent to a nearly 900,000-square-foot mall.
By Jeff Hamann
Quality Inn at Albany Mall in Albany, Ga.
Global Hotel Group has acquired the 82-key Quality Inn at Albany Mall in Albany, Ga., from a private investor. HREC Investment Advisors’ Monty Levy and Shane Skubis acted on behalf of the seller in the disposition of the southern U.S. hospitality asset. The property previously traded for approximately $3 million in 2006, according to public records.
Located at 806 N. Westover Blvd., the two-story building sits across the street from Albany Mall, an 870,956-square-foot indoor retail venue, containing a wide variety of shopping and dining options. The property is positioned along U.S. Highway 82, enabling access throughout the city and region. The hotel’s amenities include a fitness center, laundry services, a business center and free on-site parking.
“Albany, as the financial and medical hub of Southwest Georgia, is experiencing significant growth at this time, and the buyer … recognized the upside opportunity in this asset which is located in the heart of the Albany commercial corridor,” said Levy, managing director of HREC, in a prepared statement.
Image via Google Street View
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