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News
02Jan2019
Hunter Hotel Advisors Represents Rockwood Capital, LLC in Sale of Courtyard by Marriott in Cranbury, NJ
Hunter Hotel Advisors - the nation’s leading investment advisory firm focused exclusively on the hotel industry - announced today that an affiliate of Rockwood Capital, LLC sold the Courtyard by Marriott in Cranbury, NJ to Canon Hospitality Management.
The Courtyard was built in 2001 and has 144 rooms. Amenities include a restaurant, indoor pool, fitness center and event rooms.
Canon Patel, Managing Member of Canon Hospitality Management, said of their purchase: “We are thrilled to add another upscale hotel to our growing portfolio.”
Trey Scott, Senior Vice President, Hunter Hotel Advisors: “Canon brought a high level of industry knowledge to the table, and their partnership with Hunter is valued by our entire team. Rockwood Capital is a first-class organization; they worked very hard to help create a smooth closing process for all parties.”
“This is the 4th hotel Hunter sold for Rockwood in 2018. Their institutional-quality portfolio and sophisticated business style allowed the deal to move seamlessly through closing.” – Teague Hunter, President, Hunter Hotel Advisors.
This property is in a prime location off I-95 and the New Jersey Turnpike, only 10 miles from Princeton University and many other attractions and businesses, giving the new owner a steady income-generating asset.
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