TENEFLY, NJ— Concord Hospitality Enterprises has sold the 119-troom Clinton Inn Hotel & Event Center here near the George Washington Bridge.
The hotel was acquired by 145 Dean Drive, LLC.
HREC Investment Advisors arranged the sale, with SVP Ketan Patel and President/Senior Principal Geoff Davis representing the seller during the transaction.
“The hotel is in a great location is a high-barrier-to-entry market. Since it was not a branded hotel, the investment community had a number of options to choose from, including various boutique hotel brands, leaving it an independent hotel, as well as alternative uses such as senior living, “ stated Davis.