HREC Investment Advisors is pleased to announce it has arranged the sale and purchase financing of the 110-guestroom Hampton Inn & Suites located in Hershey, Pennsylvania. The sale was led by Ketan Patel, Managing Director and Kevin Hanley, Senior Vice President in the Washington D.C. office, and purchase financing was led by Greg Porter, Senior Vice President of the HREC Capital Markets Group in the San Diego office. The non-recourse acquisition loan was sized to 72.6% of the purchase price plus budgeted PIP cost and 71.5% of the property’s post-PIP value, and features a 10-year fixed rate of 4.35% and 30-year amortization.

The Hampton Inn & Suites in Hershey, Pennsylvania is located on East Chocolate Avenue next to Hershey Country Club and just one mile from Hersheypark and Chocolate World, the primary demand generator in the market. The town nicknamed “The sweetest place on earth” has become a well-established tourist destination, drawing visitors from around the state and the greater Mid-Atlantic during the spring, summer, and fall months. The Property is also in close proximity to other area demand generators including the Giant Center and the Penn State Milton S. Hershey Medical Center, and just a 30-minute drive to downtown Harrisburg.

About HREC®: HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting including market studies, and litigation support. With 17 offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.