{"id":1004401346,"date":"2020-03-19T10:30:49","date_gmt":"2020-03-19T18:30:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004401346"},"modified":"2021-05-10T02:06:11","modified_gmt":"2021-05-10T10:06:11","slug":"hrec-closes-savannah-hotel-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hrec-closes-savannah-hotel-sale\/","title":{"rendered":"HREC Closes Savannah Hotel Sale"},"content":{"rendered":"<div id=\"attachment_1004401349\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/2-e1584637429849.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004401349\" data-attachment-id=\"1004401349\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hrec-closes-savannah-hotel-sale\/2-17\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/2-e1584637429849.jpg\" data-orig-size=\"1160,870\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Lucia Morosanu&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1584644356&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Fairfield Inn &#038; Suites Savannah Midtown\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Fairfield Inn &#038; Suites Savannah Midtown. Image via Google Street View&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/2-e1584637429849.jpg?w=1024\" class=\"wp-image-1004401349 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/2-e1584637429849.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/2-e1584637429849.jpg 1160w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/2-e1584637429849.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/2-e1584637429849.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/2-e1584637429849.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004401349\" class=\"wp-caption-text\">Fairfield Inn &amp; Suites Savannah Midtown. <em>Image via Google Street View<\/em><\/p><\/div>\n<p>HREC Investment Advisors has arranged the sale of Fairfield Inn &amp; Suites Savannah Midtown on behalf of the seller, an affiliate of Encore Hospitality. North Point Hospitality Group acquired the 156-key property in Savannah, Ga.&nbsp;<\/p>\n<p>Chatham County public records show that the property traded for $23 million, while JP Morgan Chase Bank originated a $15.7 million bridge loan for the new owner. The financing is set to mature in September of this year.<\/p>\n<p>Located at 5801 Abercorn St., the asset is less than a mile from Interstate 516 and Hunter Army Airfield, with downtown Savannah roughly 3 miles away. Amenities at the property include two electric car charging stations, a fitness center and a pool.<\/p>\n<p>HREC&#8217;s Senior Vice President Tom Huegel represented the seller in the transaction. Last August, a different team from the advisory company closed the <a href=\"https:\/\/www.commercialsearch.com\/news\/banyan-investment-group-buys-alabama-hotel\/\">sale of Hotel Indigo Tuscaloosa<\/a> in Tuscaloosa, Ala.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 156-key Fairfield Inn &#038; Suites Savannah Midtown changed hands for $23 million. <\/p>\n","protected":false},"author":748,"featured_media":1004401349,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21751,21783,21742],"tags":[39364,32972],"class_list":["post-1004401346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-hotel","category-investment","category-latest","tag-hrec-investment-advisors","tag-jp-morgan-chase-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>HREC Closes Savannah Hotel Sale - 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\/hrec-closes-savannah-hotel-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HREC Closes Savannah Hotel Sale\" \/>\n<meta property=\"og:description\" content=\"The 156-key Fairfield Inn &amp; 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