Continuing its ongoing disposition of assets, hospitality REIT Ashford Hospitality Trust has completed the sale of the Hyatt Regency Long Island in Hauppauge, N.Y. The full-service hotel was sold for $26.5 million in cash through Ashford’s indirect subsidiary, HH Austin Hotel Associates. Other terms and conditions were not disclosed.
Hunter Hotel Advisor's SVP Sophia Pittaluga represented the unknown buyer.
JMIR Acquisitions, a specialized real estate purchasing entity affiliated with JMI Realty, an Austin, Texas-based private real estate investment and development, acquired the Hilton Garden Inn Austin Downtown—a 254-room hotel located in the central business district of Downtown Austin—from Ashford Hospitality Trust in late June.
Other properties recently sold by Dallas-based Ashford Hospitality include the Sheraton Mission Valley hotel in San Diego, the Hilton Garden Inn Jacksonville - Deerwood Park and Silversmith Hotel Chicago Downtown.
The 358-room Hyatt Regency Long Island—located near the 18-hole golf course at Wind Watch Golf & Country Club—includes meeting space, an indoor and outdoor pool, a fitness center, athletic courts and on-site dining.
The property was previously a Wyndham hotel before rebranding as the Hyatt Regency Wind Watch. Ashford purchased the hotel through a joint venture that acquired the Highland Hospitality portfolio of 28 hotels for $1.28 billion.