A three-hotel Fairfield by Marriott Inn & Suites portfolio in multiple states was recently sold by a large institutional owner in a deal facilitated by Alchemy Real Estate Advisors.
The portfolio includes Fairfield by Marriott properties in Lexington Keeneland Airport, Ky.; Dayton South, Ohio; and Kansas City–Lee’s Summit, Mo. Each hotel was acquired by a separate, private local investor and all three properties will continue to operate under the Fairfield by Marriott flag. Other terms and conditions were not disclosed.
“This type of institutional disposition demands speed, certainty, and seamless execution—especially across multiple markets,” Brent Clemens, principal and founder of Alchemy Real Estate Advisors, said in a statement. “This three-state closing reflects our ability to place assets with the right local investors while affording our institutional sellers scale in broader portfolio dispositions.”
In Lexington, the Fairfield by Marriott Keeneland Airport is positioned near Blue Grass Airport, Keeneland Racetrack, the University of Kentucky and key retail and tourism destinations. The Dayton South property, meanwhile, is located near the intersection of I-675 and I-75 and near Dayton Mall, Austin Landing and the University of Dayton. In the Kansas City metro area, the Fairfield by Marriott Lee’s Summit generates demand from Arrowhead Stadium, Kauffman Stadium, Summit Fair and major employers such as GEHA and CVS CareMark.