TERRE HAUTE, IN—Banyan Investment Group has completed its first acquisition of 2015 with its deal to purchase the Hampton Inn here.
The seven-floor property, which is located on a 2.5-acre site along Interstate 70, features 112 rooms, including five suites; an indoor swimming pool; a business center; a fitness center; a 144-sq.-ft. meeting room; and the brand’s “perfect mix” lobby.
“This acquisition expands our portfolio beyond the southeast, which has historically been our primary operating area, and it reconfirms our intention to establish a nationwide presence,” stated Andy Chopra, chief investment officer and a principal with Banyan Investment Group.
“We continue to actively investigate acquisition opportunities that can add both value and profitability, especially in markets with thriving corporate and university communities. We fully expect to proceed with other appropriate projects during 2015.”
Added Chopra, “Demand generators for the Hampton Inn Terre Haute are exceptionally strong, notably four nearby universities with a combined population of more than 18,000 students plus numerous major corporate employers.”