Closing Announcement

1. 1
Cox, Tina
Subject: FW: NGKF Hotels Arranges Sale of Marriott Metairie
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NGKF Hotels Arranges Sale of New Orleans
Marriott Metairie at Lakeway
Metairie, LA / New Orleans
FOR IMMEDIATE RELEASE
Newmark Grubb Knight Frank Hotels arranges the sale of a 220-
room hotel located in the New Orleans–Metairie-Kenner area.
New Orleans - Metairie, LA. (August, 2015)—Newmark Grubb
Knight Frank Hotels is pleased to announce it has arranged the sale
of the 220-room Marriot Metairie Lakeway located in the New
Orleans–Metairie-Kenner area to an undisclosed Buyer. The Seller,
based in San Francisco, was an affiliate of Fillmore Capital Partners,
LLC.
Sam Winterbottom, senior managing director, B.J. Patel, managing
director, and Barrett Corwin, associate, from the firm’s Atlanta office,
exclusively represented the Seller during the transaction.
The Marriot Hotel includes a restaurant and bar, M Club Lounge,
6,400 square feet of meeting space, other amenities and typical
services associated with a full service hotel, as well as the use of the
attached full-service Premier Fitness Club. The Marriott Metairie is a
component of the Lakeway Center, a mixed-used complex, which
consists of three high-rise office buildings, a parking garage, the
Premier Fitness Club and the Marriott Hotel. The complex is home
to 1.2 million square feet of office and hotel located on the south
shore of Lake Pontchartrain. The Hotel is only 10 miles away from
the New Orleans CBD and six miles from the New Orleans
International airport. Metairie is an affluent and well-known suburb that boasts the highest office space rents in the MSA. In
early 2015, the Hotel completed an extensive renovation of all public areas including the lobby, F&B facilities, meeting space
and a new concierge lounge. Post the close of sale, the Hotel is scheduled for a complete Marriott required guest room
renovation to install Marriott’s new guest room décor package.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank Hotels provides innovative transaction solutions and support for all types of hotel and leisure
properties, including full-service, luxury, select-service, boutique and resort hotels, as well as golf courses and mixed-used
assets. This highly-focused specialized division provides a variety of services, including: acquisitions and dispositions
("investment sales"), market research, equity and debt financing, consulting and advisory and appraisal services.
Exclusively Represented by:
Sam Winterbottom
Senior Managing Director
770.552.2469
swinterbottom@ngkf.com
Bhavesh (B.J.) Patel
Managing Director
770.552.2450
bpatel@ngkf.com
Barrett Corwin
Analyst
770.552.2470
bcorwin@ngkf.com
Newmark Grubb Knight Frank
3424 Peachtree Road
Suite 800
Atlanta, GA 30326
© Newmark Grubb Knight Frank. All Rights Reserved.
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