Assignment Overview
RobertDouglas advised Auerbach Funds on the sale of the Hyatt Place Princeton to BKS Hotels.
Project Overview
Built in 1997 as an AmeriSuites, the Hyatt Place Princeton is a 122-key Hotel located just 5 minutes from Downtown Princeton, Princeton University and MarketFair, a 240,000 SF entertainment, dining, shopping and retail lifestyle center. All three of these demand generators are accessible from the Hotel without needing to cross Route 1.
The Hyatt Place was renovated in 2014 and offers guests complimentary breakfast, a 2-meal restaurant and bar, 1,100 SF of meeting space, free internet, an indoor pool and fitness center.
Deal Highlights
| Client (Seller): Buyer: Sale Proceeds: Key Count: | Auerbach Funds BKS Hotels $15.9 million 122 |
