EXCEL GROUP ANNOUNCES PURCHASE OF HAMPTON INN NEWARK-HARRISON-RIVERWALK IN HARRISON, NJ
ARLINGTON, Va., June 19, 2018 /PRNewswire/ -- Washington DC-based real estate investment firm Excel Group has announced its recent acquisition of the 165-key Hampton Inn Newark-Harrison-Riverwalk located in Harrison, NJ adjacent to downtown Newark, NJ.
"Newark is experiencing a remarkable revitalization with over $5 billion of real estate development in the pipeline. We are excited to be a part of Newark's growth story and to add this property to our portfolio," remarked managing partner Shoham Amin. "This transaction typifies our current investment strategy of acquiring premium-branded select-service assets in strong high barrier-to-entry urban and secondary markets."
As part of the transaction, Excel Group will be executing a comprehensive multimillion-dollar renovation covering all guestrooms and public spaces. This purchase represents the fourth major transaction for Excel Group over the past 12 months, representing a total transaction volume of approximately $100 million.
For more information, please contact Shoham Amin, Managing Partner of Excel Group at email@example.com.
ABOUT EXCEL: Excel Group is a Washington, D.C.-based private equity firm that owns, develops, and asset manages hotels in high-growth markets across the Eastern U.S. Excel Group is focused on disciplined, cycle-appropriate hotel real estate acquisitions and asset management.