Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

The Siegel Group Acquires Extended-Stay Property Portfolio for USD 29m.

Document Cited in Related
Vincent

MANews-(C)2009-2022

US-based real estate investment and management company The Siegel Group has acquired a portfolio of five extended-stay properties previously operated under the Hamilton Inn Extended-Stay brand for USD 29m, the company said.

These acquisitions increase the number of Siegel Suites and Siegel Select properties throughout the United States to 66 and marks the brand's first location in Georgia and its further expansion into the Tennessee market.

These locations are in addition to the company's significant presence throughout Nevada, Arizona, Texas, Louisiana, New Mexico, Mississippi, Alabama, South Carolina, Ohio and Oklahoma.

Built between 1995-2002, the five-property portfolio is comprised of a mix of 562 studio and one-bedroom units all containing kitchenettes.

Four of the properties are located in the Tennessee cities of Chattanooga, Cleveland and Knoxville with the fifth location in Acworth, Georgia which is part of the Atlanta metropolitan area. At the time of acquisition each of the properties demonstrated high occupancy and under-market rates.

The Siegel Group will be...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT