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April 6, 2023

CBRE sells Montana hotels

Two hotels over in Missoula, Montana have changed hands. CBRE announced the related deals, with its Chris Burdett and Matthew Behrens having represented seller HomeBase Partners of Bozeman. Terms were not announced. The seller developed both the 105-room AC Hotel and 175-room Residence Inn in recent years; included in the latter's sale is a retail complex called The Mercantile. Both hotels carry the Marriott brand. The buyers were Evermore Partners and New Castle Hotels & Resorts. Burdett is based here in Seattle, and said in a statement, “We were thrilled to provide an attractive solution for both parties. Despite economic headwinds and a tight lending environment, we were able to work with the buyer, seller and Stockman Bank to help execute the sale.”




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