News

15 May2018

Hunter Hotel Advisors Announces Sale of Staybridge Suites Wilmington/Wrightsville Beach, NC

For immediate release

Contact: Nancy Petenbrink, Hunter Hotel Advisors

Nancy.Petenbrink@HunterHotels.net or 770-916-0300

 

ATLANTA, May 15, 2018 – Hunter Hotel Advisors announced today that they represented TriGate Capital and Beacon Investment Management Group in the sale of the 92 room Staybridge Suites in Wilmington, NC. Fargo, ND based Lodging Opportunity Fund, REIT purchased the hotel. LOF-REIT is a private, non-traded REIT dedicated to providing steady income and building investor wealth through investments in hospitality real estate. Beacon IMG will continue to manage the hotel.

Wilmington is a thriving market and home to several significant demand generators within the pharmaceutical, financial, shipping, manufacturing, and film industries. Located just 2.4 miles from the University of North Carolina Wilmington, the Staybridge Suites is centrally located near major employers, demand generators, and tourist attractions. Proximate major employers include GE, Corning, AAIPharma, EUE Screen Gems Studios, and many more. In addition, the hotel is only seven miles from the Port of Wilmington, less than five miles from Downtown Wilmington, and just a short drive to three stunning beaches – Wrightsville Beach, Kure Beach, and Carolina Beach. “The Staybridge Suites is well- positioned within the booming Wilmington market, a dynamic area that continues to attract strong corporate investment alongside a thriving tourism market,” said Hunter Hotel Advisors Vice President David Perrin who handled the sale.

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About Hunter Hotel Advisors

Hunter Hotel Advisors is the nation’s leading investment advisory firm focused exclusively on the hotel industry. Their seasoned team of investment professionals and offices nationwide consistently provide clients with optimal results in hotel brokerage, financial advisory, and capital markets services of any size or complexity. With 40 years of experience in both full and select-service single assets and portfolios, the firm’s capacity in valuation, economic analysis, and industry relationships has allowed Hunter to consistently maximize value regardless of market conditions. For additional information, visit www.hunterhotels.netor contact the Atlanta headquarters at 770-916-0300.

 

About Trigate Capital

TriGate Capital, LLC (TriGate) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies. TriGate is based in Dallas, TX and has completed investments throughout the United States. TriGate manages three fully discretionary real estate funds, TriGate Property Partners, LP (Fund I), TriGate Property Partners II, LP (Fund II) and TriGate Property Partners III, L.P. (Fund III), which are the vehicles through which TriGate conducts its investment strategy. Fund I and Fund II are fully invested and Fund III is presently in its investment period.

 

TriGate’s team has been responsible for acquiring over $11 billion of real estate assets through multiple types of transaction structures. The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization. Additionally, the team has extensive expertise in real estate asset selection and structuring transactions to weather different stages in the real estate investment cycle.

 

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