{"id":1004115392,"date":"2015-03-13T11:58:15","date_gmt":"2015-03-13T19:58:15","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=332722"},"modified":"2020-05-13T22:29:12","modified_gmt":"2020-05-14T06:29:12","slug":"jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m\/","title":{"rendered":"JHM Hotels Buys Embassy Suites in Raleigh, N.C. for $22M"},"content":{"rendered":"

by Adriana Pop, Associate Editor <\/em><\/p>\n

\"\"<\/a>The 225-key Embassy Suites Hotel near Crabtree Valley Mall in Raleigh, N.C. has a new owner.<\/p>\n

According to the Triangle Business Journal<\/a><\/em>, JHM Hotels of Greenville, S.C., paid $22 million to acquire the property from hotel owner and operator FelCor Lodging Trust. HREC Investment Advisors represented the seller.<\/p>\n

Built in 1987, the Embassy Suites hotel at 4700 Creedmoor Road offers air-conditioned rooms with refrigerators and LCD televisions, along with a variety of amenities, including an indoor pool, a spa tub and a fitness center. Guests also have access to a business center, conference space, restaurant and bar\/lounge.<\/p>\n

The Texas-based company is planning to use the proceeds from this transaction, as well as those from the sale of the 536-room Westin-Dallas Park Central property, to repay outstanding debt. FelCor has also agreed to sell the 261-room Embassy Suites Hotel near the San Antonio airport for $29.5 million.<\/p>\n

These transactions are in line with the company\u2019s multi-year strategy to sell its “non-strategic” hotels from its portfolio. Since 2010, FelCor has divested 34 such properties for aggregate gross proceeds of $764 million. To date, there are six remaining non-strategic hotels to be sold.<\/p>\n

JHM Hotels currently has 37 lodging facilities in its portfolio, including three Westin-branded hotels in Florida, Virginia and Maryland and two Fairfield Inn properties in Charlotte.<\/p>\n

Photo credits: embassysuites3.hilton.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 225-key Embassy Suites Hotel near Crabtree Valley Mall in Raleigh has a new owner.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1604],"tags":[],"class_list":["post-1004115392","post","type-post","status-publish","format-standard","hentry","category-latest","category-raleigh-durham"],"acf":[],"yoast_head":"\nJHM Hotels Buys Embassy Suites in Raleigh, N.C. for $22M - 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\/jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JHM Hotels Buys Embassy Suites in Raleigh, N.C. for $22M\" \/>\n<meta property=\"og:description\" content=\"The 225-key Embassy Suites Hotel near Crabtree Valley Mall in Raleigh has a new owner.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m\/\" \/>\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=\"2015-03-13T19:58:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-14T06:29:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/03\/Embassy-Suites-Hotel-Raleigh.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\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\\\/jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"JHM Hotels Buys Embassy Suites in Raleigh, N.C. for $22M\",\"datePublished\":\"2015-03-13T19:58:15+00:00\",\"dateModified\":\"2020-05-14T06:29:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m\\\/\"},\"wordCount\":233,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/03\\\/Embassy-Suites-Hotel-Raleigh.jpg\",\"articleSection\":[\"News\",\"Raleigh-Durham\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jhm-hotels-buys-embassy-suites-in-raleigh-n-c-for-22m\\\/\",\"name\":\"JHM Hotels Buys Embassy Suites in Raleigh, N.C. for $22M - 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