An affiliate of Peachtree Hotel Group sold the 90-room Home2 Suites by Hilton Prattville (Ala.) to an affiliate of Legendary Capital. HREC Investment Advisors’ Managing Director Monty Levy and SVP Tom Huegel negotiated the sale as advisor to Peachtree.
The Home2 Suites is located roughly 15 minutes outside of Montgomery, Ala., adjacent to the Capitol Hill Golf Course. Nearby points of interest include the Alabama State Capitol, Maxwell-Gunter Air Force Base and the Robert Trent Jones Golf Trail. The hotel offers a fitness center, an outdoor pool, a business center and meeting space.
“We were very pleased to negotiate a competitive price from a strong buyer with certainty of closing on behalf of one of our most valued clients in Peachtree,” Levy said in a statement. Huegel added, “Given the age and location of this asset, and the fact that the Home2 Suites brand is one of the hottest in the industry at the moment, we believe that the buyer will realize a strong [return on investment] with this acquisition.”