Marc J. Freud - Managing Principal Troutbrook Company
Marc Freud - Troutbrook Company New York

Troutbrook acquires Hampton Inn- Hilton branded hotel January 2014

news release
for immediate release
Friday, January 24th, 2014

HREC Investment Advisors Arranges the Sale of the
Hampton Inn - Allentown, Pennsylvania

(Denver, Colorado; Washington, District of Columbia) - HREC Investment Advisors is pleased to announce it arranged the sale of the 124-guestroom Hampton Inn in Allentown, Pennsylvania.

Ketan Patel, Senior Vice President in HREC Investment Advisors' Washington D.C. office and Geoff Davis, President & Senior Principal in the New York office, exclusively represented the seller during the transaction.

The Hotel is situated adjacent to Interstate 78 (Route 22/Walter J. Dealtrey Memorial Highway), and proximate to major commercial demand generators including Sharp, Nestle, the Coca-Cola Company, Boston Beer Company (Samuel Adams), and Amazon, to name a few. The Hotel is also proximate to Dorney Park & Wildwater Kingdom. The Property is easily accessible from the Lehigh Valley International Airport, located roughly thirteen miles to the northeast of the Hotel.

HREC SVP Ketan Patel stated, "The Hampton Inn Allentown presents a tremendous opportunity for the new owners. Allentown is a diverse submarket within the greater Lehigh Valley with numerous strong demand generators. The excellent location of the Hampton Inn, strength of the flag and proximity to those demand generators will allow it to grow and become a market leader when the buyer, Troutbrook/Freud Development out of New York City completes a multi-million dollar renovation to transform the property. The buyers have engaged Marshall Hotels to manage the property and financed the acquisition using GE Capital. This is also the third hotel HREC has sold in the recent years with the Lehigh Valley.