{"id":1004199224,"date":"2017-12-05T04:46:24","date_gmt":"2017-12-05T12:46:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004199224"},"modified":"2022-12-09T02:20:14","modified_gmt":"2022-12-09T10:20:14","slug":"clarion-partners-sells-hotel-portfolio-for-135m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/clarion-partners-sells-hotel-portfolio-for-135m\/","title":{"rendered":"Clarion Partners Sells Hotel Portfolio for $135M"},"content":{"rendered":"

By Barbra Murray<\/em><\/p>\n

\"Blake<\/a>

Blake Lyon, Skyline Investments<\/p><\/div>\n

Clarion Partners LLC has sold a group of 13 Courtyard by Marriott hotels to Skyline Investments in a transaction valued at $135 million. Both parties relied on\u00a0HFF for assistance in the deal; the commercial real estate and capital markets services provider marketed the portfolio on Clarion\u2019s behalf, and arranged acquisition financing for Toronto-based Skyline.<\/p>\n

Skyline gets quite a diverse footprint with the purchase of the 1,913-key hotel collection. Spanning nine states, the select-service properties, built between 1985 and 1989, are located in Birmingham and Huntsville, Ala.; Little Rock, Ark.; Tucson, Ariz.; Fort Myers, Fla.; Chicago; Lexington, Ky.; Dayton and Toledo, Ohio; Oklahoma City; and Northern Virginia.<\/p>\n

\u201cThis is an important step in the implementation of Skyline’s new business strategy to increase the number of income-producing assets, diversify the Company’s sources of income, improve the cash flow and reduce part of the land component in the balance sheet,\u201d<\/em> Blake Lyon, CEO of Skyline Investments, said in a prepared statement.<\/p>\n

The portfolio had a great run under Clarion\u2019s ownership. In 2016, the 13 properties generated revenue totaling approximately $51.1 million.<\/p>\n

After HFF secured Skyline as a buyer for the Courtyard hotels, the firm paved the way for the investment company\u2019s purchase of the properties by arranging an $89.5 million,\u00a0five-year, floating-rate acquisition loan through a global investment bank. HFF performed a similar service for Clarion one year ago, securing $200 million in financing for Clarion\u2019s acquisition of a nine-property portfolio<\/a> of multifamily, industrial and retail assets.<\/p>\n

Photo courtesy of\u00a0Skyline Investments<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The collection of Courtyard by Marriott properties, totaling more than 1,900 guestrooms across nine states, is now under the ownership of Toronto-based Skyline Investments.<\/p>\n","protected":false},"author":969,"featured_media":1004199235,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21751,21783,23891,21742],"tags":[32790,32792,33877],"class_list":["post-1004199224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-hotel","category-investment","category-national","category-latest","tag-clarion-partners","tag-hff","tag-marriott"],"acf":[],"yoast_head":"\nClarion Partners Sells Hotel Portfolio for $135M - 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\/clarion-partners-sells-hotel-portfolio-for-135m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Clarion Partners Sells Hotel Portfolio for $135M\" \/>\n<meta property=\"og:description\" content=\"The collection of Courtyard by Marriott properties, totaling more than 1,900 guestrooms across nine states, is now under the ownership of Toronto-based Skyline Investments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-sells-hotel-portfolio-for-135m\/\" \/>\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=\"2017-12-05T12:46:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:20:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Blake-Lyon-Skyline-Investments.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\\\/clarion-partners-sells-hotel-portfolio-for-135m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-partners-sells-hotel-portfolio-for-135m\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Clarion Partners Sells Hotel Portfolio for $135M\",\"datePublished\":\"2017-12-05T12:46:24+00:00\",\"dateModified\":\"2022-12-09T10:20:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-partners-sells-hotel-portfolio-for-135m\\\/\"},\"wordCount\":268,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-partners-sells-hotel-portfolio-for-135m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/12\\\/Blake-Lyon-Skyline-Investments.png\",\"keywords\":[\"Clarion Partners\",\"HFF\",\"Marriott\"],\"articleSection\":[\"Deals\",\"Featured\",\"Hotel\",\"Investment\",\"National\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-partners-sells-hotel-portfolio-for-135m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/clarion-partners-sells-hotel-portfolio-for-135m\\\/\",\"name\":\"Clarion Partners Sells Hotel Portfolio for $135M - 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