HREC Investment Advisors is pleased to announce it has arranged the sale of the 80-guestroom Holiday Inn Express & Suites Lafayette South and the 78-guestroom Fairfield Inn & Suites Lafayette I-10 both located in Lafayette, Louisiana.
HREC Investment Advisors exclusively represented the seller on this transaction. The marketing and negotiations were led by Michael Salloway, Vice President in HREC Investment Advisors’ Atlanta office, and Len Wormser, Senior Vice President in HREC Investment Advisors’ New Orleans office, who is also the broker on record for Louisiana.
“It was a pleasure assisting the seller and working with the buyers on these properties. From the moment we hit the market the interest level was high and multiple offers (and backup offers) were received showing that the buyer pool for Louisiana remains strong. These properties will benefit from a recovering economy and will continue to trend upward as the market comes out of a Covid environment. We look forward to helping many other owners in the market sell their properties,” expressed Salloway and Wormser.
The Hotels are ideally located near several of Lafayette’s primary demand generators: the Lafayette General Medical Center, the 19,000-student University of Louisiana at Lafayette, the Cajundome Convention Center, the Lafayette Regional Airport, and several more. Lafayette is nicknamed “Hub City” as it is at the center of the vibrant twenty-two parish “Acadiana” region’s economic, governmental, educational, and cultural life. Acadiana is the region in southern Louisiana that has historically been the home of most of the regions Francophone population. The metropolitan area’s economy is particularly well-developed in the gas and oil services, manufacturing, and healthcare industries, as well as a developing high-tech sector.
About HREC®: HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting including market studies, and litigation support. With 22 offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital, and hotel/casino specialization.
Visit HREC®’s website at www.hrec.com
