Hamm of SVN handles sale of four Upstate hotels

Tom Hamm, SVN

Stamford, CT According to Tom Hamm, director, hospitality council of SVN, the firm completed the sale of four hotels.

Owego Associates, Inc. was the seller of the three hotel portfolio in Owego, which included a free standing bank branch office.  The hotels are located along Rte. 17c. The buyers were Rudra Management. Inc., Southern Tier Hotel LLC, and Tioga Hotel LLC. The portfolio consisted of 220 guest rooms, restaurant, lounge and a 12,000 s/f conference center.

The Albany CrestHill Suites Hotel is an extended stay hotel with 94 suites. The seller was CrestHill Suites – Albany LLC and the buyer was Albany CrestHill Suites LLC intends to grow the CrestHill Suites brand of extended stay hotels.

SVN is one of the only commercial real estate firms that markets all of its properties to the entire brokerage and investment community.  Participating in approximately $10.1 billion in sales and leasing transactions in 2015, SVN Advisors shared commission fees with co-operating brokers in order to close more deals in less time and at the right value for clients. This open, transparent and collaborative approach to real estate is the SVN Difference.

Sperry Van Ness International Corp. (SVNIC), a full-service commercial real estate franchisor of the SVN brand, is one of the industry’s most recognized names based on the annual Lipsey Top Brand Survey. With 200 locations serving over 500 markets, SVN provides sales, leasing, corporate services and property management services to clients across the globe. SVN Advisors also represent clients in auction services, corporate real estate, distressed properties, golf & resort, hospitality, industrial, investment services, land, medical, multifamily, office, retail, self-storage and single tenant investments. All SVN offices are independently owned and operated.