ALEXANDRIA, Va. (PRWEB) January 24, 2018
SVN | Hamm & Company one of the nation’s premier hospitality brokerage firms, has advised on the successful purchase of the Residence Inn by Marriott in Alexandria, Va. The 240-room, 257,000 sq. ft. hotel was purchased for $72 million.
Tom Hamm, Managing Director of SVN | Hamm & Company represented the buyer, AVR Acquisition Corp.
“SVN | Hamm & Company was tapped for our expertise in the hotel industry to help obtain a suitable buyer that met the requirements of the seller,” said Hamm. “The purchase of this property was a synergistic investment for the buyer, considering the other properties in their portfolio.”
Located at 1456 Duke Street, the buyer plans to invest into the property by renovating and upgrading the Residence Inn by Marriott to its highest standards, with the goal of making this purchase a long-term investment.
Old Town Alexandria is a charming neighborhood located in Alexandria, Va. This desirable destination outside of Washington, DC, is home to a concentration of boutiques, restaurants, antique shops and theaters, creating a major draw for residents and visitors alike. Alexandria is centrally located near prominent transportation options including the Ronald Reagan Washington International Airport, Alexandria Union Station; State Route 7 and the Capital Beltway, also known as Interstate 95/495.
About SVN | Hamm & Company:
SVN | Hamm & Company is an independently owned and operated SVN® office led by Tom Hamm, a member of SVN | Hotels and Director of SVN’s Hospitality Council. The SVN organization is a globally recognized commercial real estate entity united by a shared vision of creating value with clients, colleagues and our communities. The SVN Brand is comprised of over 1,600 Advisors and staff in more than 200 offices across the globe. Our brand pillars represent the transparency, innovation and inclusivity that enables all our advisors to collaborate with the entire real estate industry on behalf of our clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN advisors create amazing value with our clients, colleagues and communities. For more information, visit http://www.svn.com.