{"id":1004050427,"date":"2012-09-24T09:54:46","date_gmt":"2012-09-24T17:54:46","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=70046"},"modified":"2022-12-05T09:04:44","modified_gmt":"2022-12-05T17:04:44","slug":"felcor-sheds-two-properties-for-70m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/felcor-sheds-two-properties-for-70m\/","title":{"rendered":"FelCor Sheds Two Properties for $70M"},"content":{"rendered":"

By Eliza Theiss, Associate Editor<\/p>\n

FelCor Lodging Trust Inc. has entered into an agreement to sell two \"\"<\/a>properties for the combined price of $70 million. The properties are the 296-key Embassy Suites \u2013 Nashville \u2013 Airport and the 370-key Embassy Suites Hotel New Orleans – Convention Center.<\/p>\n

Located at 315 Julia St., the 370-key Embassy Suites Hotel New Orleans \u2013 Convention Center sits in the heart of the Crescent City\u2019s downtown, in the Warehouse District. \u00a0Embassy Suites New Orleans – Convention Center features a 24-hour BusinessLink business center, complete with the necessary professional amenities, such as photocopying services. The hotel also features 8,000 square feet of meeting space, including a 3,952-square-foot event space, plus an atrium, a heated lap pool and a fitness center, along with a bar, Madeline\u2019s Lounge, and The Sugar House Restaurant, offering local cuisine.<\/p>\n

Services include complimentary cooked-to-order breakfasts, manager\u2019s receptions in the evening, as well as valet parking.<\/p>\n

Suites feature private bedrooms, spacious living rooms, flat-screen televisions, high-speed Internet access, plus a wet bar, work\/dining table, refrigerator, coffeemaker and microwave.<\/p>\n

The buyer has put forward a $2.1 million hard-money deposit toward the purchase price. The deal is expected to close in October. The sale is part of FelCor\u2019s long-term portfolio repositioning strategy, through which it is seeking to divest itself of 39 (non-strategic) hotels of its total of 69. It has shed 18 of the 25 properties it has put on the market since December 2010.<\/p>\n

FelCor, a real estate investment trust, owns 69 primarily upper-upscale, full-service hotels in major and resort markets in 22 states. FelCor partners with leading hotel brands such as Doubletree, Embassy Suites, Hilton, Marriott, Sheraton and Westin, as well as premier independent hotels in New York.<\/p>\n

Photo credit: Embassy Suites Hotel New Orleans – Convention Center\u2019s Google+ page<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

FelCor Lodging Trust Inc. has entered into an agreement to sell two properties for the combined price of $70 million<\/p>\n","protected":false},"author":49,"featured_media":1004506473,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1599,21742],"tags":[],"class_list":["post-1004050427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-orleans","category-latest"],"acf":[],"yoast_head":"\nFelCor Sheds Two Properties for $70M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/felcor-sheds-two-properties-for-70m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FelCor Sheds Two Properties for $70M\" \/>\n<meta property=\"og:description\" content=\"FelCor Lodging Trust Inc. has entered into an agreement to sell two properties for the combined price of $70 million\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/felcor-sheds-two-properties-for-70m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-09-24T17:54:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T17:04:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Embassy-Suites-New-Orleans-Convention-Center.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/felcor-sheds-two-properties-for-70m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/felcor-sheds-two-properties-for-70m\\\/\"},\"author\":{\"name\":\"Eliza Theiss\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"headline\":\"FelCor Sheds Two Properties for $70M\",\"datePublished\":\"2012-09-24T17:54:46+00:00\",\"dateModified\":\"2022-12-05T17:04:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/felcor-sheds-two-properties-for-70m\\\/\"},\"wordCount\":293,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/felcor-sheds-two-properties-for-70m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Embassy-Suites-New-Orleans-Convention-Center.jpg\",\"articleSection\":[\"New Orleans\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/felcor-sheds-two-properties-for-70m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/felcor-sheds-two-properties-for-70m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/felcor-sheds-two-properties-for-70m\\\/\",\"name\":\"FelCor Sheds Two Properties for $70M - 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