HREC Investment Advisors arranges sale of 96 unit Sonesta ES Suites at TF Green Airport

Warwick, RI HREC Investment Advisors has arranged the sale of the 96 suite, Sonesta ES Suites located at 500 Kilvert St. at TF Green Airport. The hotel was acquired by Residences at Metro Center, LLC, a Rhode Island developer.

HREC Investment Advisors exclusively represented the owner, Shiv AM RI Hotels, LLC, on this transaction. The marketing and negotiations were led by Jim O’Connell, principal and Brendan Collins, vice president, both located in the HREC Investment Advisors’ Boston office.

The new owners are in the process of evaluating the ongoing operation and have retained High Road Hospitality to manage the asset. High Road Hospitality manages several Marriott and Hilton branded hotels throughout Southeastern Mass.

The hotel is located at the base of Kilvert St., with direct access to TF Green International Airport and the Amtrak Train Station. Because of the convenience of the extended stay brand, the hotel services seasonal guests enjoying Newport as well as companies doing business within the facilities of General Dynamics Electric Boat at Quonset Point in North Kingstown.

HREC is one of the nation’s leading lodging and gaming real estate advisory firms specializing in property sales, mortgage brokerage, equity/JV structuring, consulting including market studies, and litigation support.

Tags: Brokerage Rhode Island Hotel-hospitality

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