Sale of Sheraton Metairie - New Orleans Hotel Facilitated by The Plasencia Group
June 6, 2017 9:11am
Tampa, Fla. (June 6, 2017) – The Plasencia Group is pleased to announce the sale of the Sheraton Hotel located in the New Orleans suburb of Metairie. The firm represented a joint venture of Songy Highroads, JDC Holdings and Aimbridge Hospitality in the sale of the 181-room hotel to Hotel Capital, LLC, a private equity real estate investment firm. Hotel Capital LLC’s Chief Executive Officer, Michael Collier, commented on the transaction, “We are very excited to invest in New Orleans which continues to positively transform into more of an international and institutional marketplace for commercial real estate owners while the annual tourism and convention business continues to climb.”
The Plasencia Group’s Senior Vice President Robert Wiemer and Vice Presidents Joe Corcoran and Paul Williams advised the client in this disposition, marking the second time the firm has successfully transacted the asset.
“The renaissance of the entire New Orleans region combined with Metairie’s stable and active corporate demand generators clearly positions the Sheraton for its next economic cycle as the area’s premier full-service lodging establishment,” commented Robert Wiemer, Senior Vice President of The Plasencia Group.
Joe Corcoran, Vice President of The Plasencia Group, added, “Given the re-positioning opportunity with this asset, along with the continued appeal of the Metairie submarket to transient travelers, we anticipate that the new owner will further advance the hotel’s performance.”
The Plasencia Group has successfully completed disposition engagements for 23 hotel and resort assets in Louisiana and 76 Marriott-branded hotels nationally since 1999.
Tags: sheraton metairie,
the plasencia group,
The Plasencia Group is a full-service hotel investment and consulting firm offering Transaction Services, Capital Markets, and Consulting & Advisory Services throughout North America.
For more information, please visit www.TPGhotels.com.
Contact: Jodie Orozco, Vice President of Marketing & Partnerships
Sonnenblick-Eichner Company Arranges $16,750,000 of First Mortgage Acquisition Financing for the Normandy Hotel, Washington, D.C.
Avison Young Hospitality Group Announces Closings
Paramount Lodging Advisors Sells 12th Consecutive Property in the Indiana Market
Avison Young Hospitality Group Announces July Closings
Sale of Courtyard Fort Lauderdale Beach Led by The Plasencia Group
Avison Young Hospitality Group Announces Recent Closings
The Plasencia Group Closes Sale of DoubleTree by Hilton Salt Lake City Airport Hotel
Paramount Lodging Advisors Team Sells the Comfort Suites in Lafayette, IN
Hilton Garden Inn Dallas/Richardson Transaction Led by The Plasencia Group
The Plasencia Group Advises on Cleveland Marriott Downtown at Key Center
The Plasencia Group Advises on Sale of Aloft Leawood-Overland Park
Sale of Holiday Inn Orlando-Disney Springs Area Handled by The Plasencia Group
Paramount Lodging Advisors Arranges the Sale of the Former Residence Inn located NW Indianapolis, IN
Paramount Lodging Advisors Assists in the Sale of the Detroit Metro Airport Marriott
Paramount Lodging Advisors Arranges the Sale of 649 Jones Street Formerly “Halcyon Hotel” Located in San Francisco, California
Hotel AG Announces Recent Closings
Downtown Columbus Hotel Portfolio Transaction Led by The Plasencia Group
Paramount Lodging Advisors Successfully Advises On Another New England Hotel
Paramount Lodging Advisors Assist in Two Auburn Area Hotel Transactions
Please login or register to post a comment.