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5/19/15
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Blackstone recently purchased a six-hotel portfolio from CSM Corporation. The premium, select-service hotels are nationally branded with either Marriott or Hilton flags and represent over 751 keys. The majority of the porotfolio is located in the Pacific Northwest region.
Hunter Hotel Advisors represented CSM Corp in the deal. Terms of the transaction were not disclosed.
“This was a unique opportunity to acquire a portfolio of institutional grade assets with a heavy Pacific Northwest concentration and strong portfolio RevPAR,” said Teague Hunter, president of Hunter Hotel Advisors. “In addition to the portfolio’s excellent in-place cash flow, all of the properties are positioned in rapidly expanding markets.”
The six hotels comprising the sale are as follows:
• The Courtyard by Marriott - Minneapolis/St. Paul-Roseville
• The Residence Inn by Marriott - Minneapolis/St. Paul Roseville
• The Courtyard by Marriott - Portland Southeast
• The Hilton Garden Inn - Portland/Beaverton
• The Residence Inn by Marriott - Phoenix-Mesa
• The Residence Inn by Marriott - Portland North/Vancouver
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