Sheraton Hotel Albuquerque Airport
Sheraton Hotel Albuquerque Airport
HREC Investment Advisors is pleased to introduce the opportunity to acquire the leasehold interest of the 276-guestroom Sheraton ABQ Airport Hotel (hereinafter sometimes referred to as the “Hotel” or “Property”).
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Mike Armstrong is a Principal and co-head of HREC's® capital markets practice. A 30-year hotel industry veteran, Mike brings extensive experience in debt & equity financing, hotel real estate sales, development, acquisitions and hotel management to his leadership role with the company.
Prior to HREC®, Mike was the founder and president of Neptune Hospitality Advisors where he directed the company's advisory activities, including hospitality transactional services, debt & equity raising services, and asset management services. Over his career, Mike completed over $2.5 billion in real estate sales and financing. Notable transactions for Mike have included a $100 million refinance of a 11-hotel portfolio in California, the $40 million refinance of the Sheraton Gunter Hotel in San Antonio, Texas, and acquisition financing of $60 million on the Le Meridian Hotel in Cancun, Mexico.
A graduate of the University of North Texas, Armstrong holds a Bachelor of Business Administration degree with an emphasis in Real Estate and Finance.
- Property Type
- Hotel & Hospitality
- Deal Type
- Acquisition
- Risk Profile
- Core
The Hotel is the sole lodging facility located on airport grounds at Albuquerque International Sunport Airport (“ABQ”), making the Hotel the most immediate and easily accessible lodging facility to the airport terminal. Albuquerque hotels achieved strong performance in 2019, growing an impressive 10% over the prior year, according to the Rocky Mountain Lodging Report.
The Hotel is located approximately five miles southeast of Downtown Albuquerque, two miles south of the University of New Mexico, three miles west of the Gibson Gate at Kirtland Air Force Base, and proximate to a variety of other corporate, leisure, and government demand generators. Due to its location at the entrance to the airport and Sunport Blvd SE exit along Interstate 25, the Hotel is well situated and has excellent visibility to attract business, government, and leisure demand traveling along the interstate. Additionally, Albuquerque has a thriving movie and film industry which is attracting companies like Netflix to the area, which has boosted demand for first class full-service hotel accommodations.