Germany-based real estate company Union Investment has sold the Hyatt House/Hyatt Place hotel complex in Charleston, South Carolina, to the US investment platform Highline Hospitality Partners.
The hotel, which opened in 2015, is located in the world-famous historic city centre of Charleston, South Carolina, one of the most popular destinations in the USA for both leisure and business travellers.
Union Investment acquired the hotel in 2018 for the portfolio of open-ended real estate fund UniImmo: Global.
The parties have agreed not to disclose the sale price.
“The transaction markets in the hotel property sector are slowly regaining momentum. We have seized this early market opportunity to successfully sell the Hyatt House/Hyatt Place,” says Andreas Löcher, Head of Investment Management Operational at Union Investment.
“In Highline Hospitality Partners, we have found an experienced buyer who will continue to write the success story of the property.”
The hotel complex in Charleston consists of two parts: The Hyatt House comprises 113 hotel rooms. These are designed for longer stays and offer a corresponding level of comfort, including a living room with a sofa bed and an integrated kitchen.
The Hyatt Place comprises 191 classic hotel rooms. In addition, there are conference areas, a fitness centre, swimming pool, a shopping market and a rooftop bar, which can be used by all guests of the hotel.
