October 7, 2019
Shulman Rogers’ clients, Woodmont Lodging, a leading hotel company, and Milestone Companies, a premier full-service real estate development company specializing in hotel assets, today jointly announced the completed acquisition of the 98-room Fairfield Inn & Suites Pittsburgh Downtown. Woodmont Lodging will provide asset management services, and Milestone Hospitality will deliver property management services to the newly constructed hotel.
“We continue to seek premium-branded assets in compelling markets with multiple demand generators capable of better weathering any potential economic downturns,” said Elliott Estes, principal, Woodmont Lodging. “Pittsburgh is a dynamic market, the hotel has incredible river views and is surrounded by a variety of Fortune 500 companies, universities, hospitals and a growing tech corridor. The hotel is the newest property in Pittsburgh, providing business and leisure guests with the latest amenities.”
Shulman Rogers represented Woodmont Lodging and Milestone Companies in connection with the acquisition and financing, the relicensing agreement with Marriott and the negotiation with our JV partner.
To read the full press release, click HERE.
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