16 August 2023

HUNTER HOTEL ADVISORS ARRANGES SALE OF TRU BY HILTON HARBISON COLUMBIA, SOUTH CAROLINA

Hunter Hotel Advisors (“HUNTER”) is pleased to announce the sale of the Tru by Hilton Harbison Columbia in Columbia, South Carolina. Sycamore Investment Group (“Sycamore”) sold the property to APS Wheeler for an undisclosed amount. Mayank Patel, Senior Vice President of HUNTER, arranged the sale on behalf of the seller. Sycamore looks forward to pursuing future opportunities following the divestiture.

“We are pleased to announce this transaction on behalf of one of our long-standing clients.  The Tru Harbison Columbia has exhibited tremendous RevPAR growth during the first half of 2023.  As one of the newest Hilton products in the market, the Tru will continue to capitalize on its proximity to Downtown Columbia, Fort Jackson, and the University of South Carolina,” said Mayank Patel, Senior Vice President of Hunter Hotel Advisors.

“We have once again trusted Mayank and the HUNTER team to execute another transaction for us as we continue to implement our selective disposition strategy.  This sale will allow us to provide an attractive return to our investors and allocate capital to build upon our blueprint of developing premium hotel assets with exceptional growth potential,” said Aashay Patel, President of Sycamore Investment Group.

With its Downtown Columbia adjacent location, leisure travel consistently drives demand to the Tru by Hilton Harbison Columbia. Built in 2018, the 85-room hotel provides easy access to downtown Columbia, Lake Murray, and the Columbia Metropolitan Convention Center. Additionally, the University of South Carolina hosts nearly 1.5 million fans annually for sporting events and is 10 miles south of the property.