HREC Investment Advisors, North America’s leading hotel real estate advisory firm, is pleased to announce that Phil White has been promoted from Senior Associate to Vice President, focusing on hospitality brokerage based in the company’s newly opened brokerage office in Jersey City, New Jersey.
He brings nearly four years of successful industry transactional experience. At HREC, he has analyzed more than 325 unique lodging properties, valued at a total of more than $6 billion and resulting in the successful disposition of $1B in hotel assets. Phil is a graduate from Michigan State University with a BA in Hospitality Business, minoring in hospitality real estate investment management.
Over the past year, Phil has worked on multiple hotel investment sales transactions scattered throughout the northeastern region ranging from New York down to the Carolinas. These transactions include the Boyle Hotels New Jersey Portfolio (Best Western Plus Morristown, Best Western Plus Murray Hill, and Best Western Westfield), Four Points by Sheraton in Newark, DE, Holiday Inn in Cherry Hill, NJ, SpringHill Suites in Downtown Baltimore, MD, Hampton Inn in Hershey, PA, and Quality Inn in Newark, DE. In addition, Phil currently has more than seven deals under contract that are expected to close by the end of 2019. Other asset transactions Phil has helped facilitate during the past year include: Hotel Indigo in Tuscaloosa, AL, Marriott San Antonio Northwest in San Antonio TX, DoubleTree Airport in San Antonio, TX, DoubleTree Suites Airport in Nashville, TN, and Holiday Inn & Suites in Ann Arbor, MI.
“I look forward to expanding HREC’s presence, helping grow our practice, and remaining with the preeminent hotel advisory firm in the United States. HREC’s second office within the New York City Metropolitan area will allow for improved client services related to asset transactions and mortgage brokerage. At this point in the economic cycle, New York City should continue to see an increase in transaction volume with owners seeing enhanced values, thus allowing HREC the ability to be on the forefront of NYC transactions.”
“Team HREC is thrilled Mr. White is continuing his professional career with us,” exclaimed Mike Cahill, HREC’s CEO and Founder. “Phil has become an integral part of our team and will become a strong force in hotel brokerage in the Northeast.” “Phil’s knowledge of the New York City Metro Area Lodging Market has proven to be unparalleled and will allow for premier advisory services to his clients,” HREC’s Senior Principal & COO, Scott Stephens, stated.
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.
