Barings sells 7 U.S. hotels to Hong Kong–based company

Barings, one of the world’s leading asset management firms, on behalf of its client, a major international financial services company, has sold seven U.S. hotels to a Hong Kong–based investment management company, Junson Capital, for $650 million. The portfolio comprises seven upper-upscale business class hotels in the Chicago, Boston, Seattle, Phoenix, and Washington, D.C., metropolitan areas. The Seattle property, a 319-room luxury hotel called The Motif Seattle, sold for $145 million.

Barings is being retained by the new owner as asset manager for the hotel portfolio on a long-term basis, and all hotel operations will continue as usual with no change in current hotel management companies or personnel.

“As an asset class, commercial real estate equity continues to attract investors seeking risk-adjusted returns, and assuming an adequate hold period; well-located quality hotel properties also represent a good portfolio diversifier,” said Michael Zammitti, head