Alpine Realty Capital Closes Hotel Sale in Michigan College Town
Alpine Realty Capital Closes Hotel Sale in Michigan College Town
Alpine Realty Capital continues to be the most active hotel broker in Michigan
Alpine Realty Capital, a leading advisor in hospitality real estate investment and a member of Hotel Brokers International, today announced that it has successfully represented the owner in the sale of the HomeTowne Studios by Red Roof in Okemos (East Lansing), Michigan.
Alpine was engaged by the owner to execute a confidential, off-market listing process whereby Alpine tapped its extensive network of qualified buyers to review and underwrite this transaction without the broad exposure Alpine typically provides. Despite the confidential nature of the marketing process, Alpine utilized the substantial functionality of the Hotel Brokers International’s website www.hbihotels.com to manage the entire process. Through its network, Alpine was able to secure numerous offers and navigate a successful, timely closing.
“The East Lansing submarket has long been a magnet for hotel investment due to the mix of demand generated by automotive manufacturers, State government, corporate headquarters, and Michigan State University,” said Ed Walsh, President of Alpine Realty Capital. “In this particular case, we were able to successfully close at a strong price and honor the seller’s wishes for a confidential marketing process,” continued Walsh.
Alpine works daily with groups looking for opportunities to provide capital investment or other means to provide equity returns. In an environment in which the supply of lodging properties for sale is scarce and construction costs remain high, Alpine is seeing ever-increasing interest in acquisitions from various groups, including owner-operators, who are seeking to participate in the industry’s strong returns while buying for less than replacement cost.
About Alpine Realty Capital
Based in Ann Arbor, Michigan, Alpine Realty Capital is a mortgage banking and real estate brokerage firm specializing in hotel asset investment, valuation, financing, marketing and transactions. Edward P. Walsh, CHB, serves as President and Principal Broker of Alpine Realty Capital. Mr. Walsh is a dedicated lodging industry professional whose career spans more than 35 years in the lodging industry. He has held numerous positions in consulting, valuation, and for the most recent years as a hospitality real estate and mortgage broker, founding Alpine Realty Capital in 2007. His expertise includes providing services regarding all phases of investment, from site selection and acquisition to feasibility analysis and appraisal, and from mortgage financing to construction cost analysis. In all, Mr. Walsh has provided real estate consulting and/or transaction services for more than $1 billion worth of hospitality real estate assets.
About Hotel Brokers International
Founded in 1959, Hotel Brokers International (HBI) is the hospitality industry's most established and experienced network of hotel real estate professionals. With more than 11,000 successful hotel transactions, HBI members are recognized leaders in hotel brokerage, investment advisory, and market insight. HBI is the founder and administrator of the Certified Hotel Broker (CHB) Program—the only professional designation specifically for hotel brokers. In addition to brokerage services, HBI offers affiliate membership opportunities for professionals in franchising, lending, appraisals, and investment services. To learn more, visit www.hbihotels.com.
For more information, contact: Edward P. Walsh, CHB, President, Alpine Realty Capital 734.645.2566 | ewalsh@alpinerealtycapital.com
