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| DoubleTree by Hilton, Santa Fe |
IRVINE, CA—The Hotel Group (THG) has closed the sale of the 130-room DoubleTree by Hilton in Santa Fe, NM. The property was sold by an affiliate of THG in an online event on the Ten-X commercial sales platform.
California-based entity UJAS Santa Fe LLC was the buyer. Mike Kelly and Brandon Miller of Ten-X partnered with Cushman & Wakefield’s Daniel MacDonnell and Eric Melendez-Lluch to market and sell the asset.
“This was our first time using the Ten-X sales platform as a seller, so we entered into this transaction wondering whether Ten-X could really execute and close with certainty on an upper-scale brand like DoubleTree by Hilton,” said Doug Dreher, president and CEO of The Hotel Group. “During the valuation process, Ten-X’s ultimate pricing was considerably higher than the highest broker valuation we’d received from other nationally recognized hospitality brokerage firms. Though there were some challenges in the market, Ten-X created a nationwide market and executed well on many levels.”
Located at 4048 Cerrillos Rd. in the heart of the city, the hotel was built in 1986 and later renovated by THG in 2012. The property features 130 rooms, 14 suites and 4,500 sq. ft. of meeting space. Amenities include on-site dining, complimentary WiFi, custom bedding, HDTVs in all rooms, laundry/valet service, business center, gift shop and an indoor/outdoor pool.
Tags: • DoubleTree by Hilton • Santa Fe • NM • Hospitality • Brokers •
