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Case Study

Sale Completed in 5 Months - Despite Tightening of Debt Markets

Jones Lang LaSalle's Hotels & Hospitality Group represented C-III Capital Partners, LLC in the sale of the 124-room Comfort Suites Chesapeake.
 
The property is strategically located in the Hampton Roads MSA, adjacent to the Hampton Roads Beltway (Interstate 64) which provides convenient access to major area business and leisure demand generators. Hampton Roads is home to one of the largest concentrations of Department of Defense personnel in the United States, the largest naval base in the world, and the only NATO command in the U.S.
The hotel offered attractive upside potential upon completion of a renovation, positioning the hotel to increase market share.
 
Despite the tightening of the debt markets that occurred in August, Jones Lang LaSalle's Select Service team completed the sale in less than five months from the launch of the marketing campaign. Landmark Hotel Group acquired the hotel in February 2012. 
 
For more information please contact Al Calhoun.

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