June 20, 2017
Summit Hotel Properties Inc., headquartered in Austin, closed on the sale of the 90-key Courtyard El Paso Airport at 6610 International Dr. The REIT walked away from the deal with $11.2 million, having completed its plan to sell a total of 26 hotels.
The undisclosed buyer, also headquartered in Texas, is planning a $2-million upgrade to the property, in order to bring it up to the newer brand standards. The three-story asset delivered in 2002.
Hunter Hotel Advisors represented Summit Hotel Properties in the transaction. Trey Scott, with Hunter’s Jacksonville, FL office, also advised in the transaction.
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