This is a rare opportunity to acquire a first class NY portfolio with highly desirable Manhattan locations,” said Marc Magazine, Executive Managing Director of Savills Studley’s Hotel Group.
Mclean, VA (PRWEB) October 12, 2015
Savills Studley’s National Hospitality Group, today announced they received the exclusive mandate to sell four assets of the Apple Core Hotel Portfolio (“Portfolio” or “Hotels”) located at various addresses in Midtown New York City. The National Hospitality Group, as exclusive agent to the Owner, is led by Marc Magazine, Executive Managing Director, Tom Baker, Corporate Managing Director and Justin Magazine, Managing Director.
The Apple Core Hotel Portfolio consists of four limited-service hotels totaling 543 rooms: the Ramada New York/Eastside, the NYMA, the La Quinta Inn & Suites and Broadway @ Times Square Hotel. These exceptional properties are being offered unencumbered by management and prospects may pursue each asset individually or together as a portfolio. The fee-simple interest offering represents an extremely rare opportunity for an investor/operator to own a significant Portfolio of hotels in the world’s top lodging market.
The addresses of the four properties include: the 111-room Ramada New York/Eastside located at 161 Lexington Avenue, the 171-room nyma located at 6 West 32nd Street, the 182-room La Quinta Inn & Suites located at 17 West 32nd Street and the 79-room Broadway @ Times Square located at 129 West 46th Street.
“This is a rare opportunity to acquire a first class NY portfolio with highly desirable Manhattan locations,” said Marc Magazine, Executive Managing Director of Savills Studley’s Hotel Group. “It is our goal to have the properties either as a portfolio or as individual assets under contract by year end."
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 27 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals in over 60 countries around the world. Savills plc is listed on the London Stock Exchange (SVS.L).
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