CBRE Hotels Sells 11 Property Hotel Portfolio in Five States

Norfolk, Virginia – January 8, 2014 – CBRE Hotels is pleased to announce McKibbon Hotel Group, Inc. has sold their 11 upscale select-service and extended stay hotel portfolio located through the Southeastern United States to Noble Investment Group. The hotels will continue to be managed by McKibbon Hotel Management, Inc. CBRE Capital Markets arranged the financing for the transaction.

Located across seven cities in five states, the portfolio includes a total of 1,308 rooms with premium Marriott and Hilton brand affiliations. Developed by McKibbon Hotel Group, an award-winning hotel developer and owner and recognized leader in the hospitality industry, the hotels are noted for the quality design and construction and have an average age of eight years.

Doug Henkel was the lead broker for the team of Lew Miller, Andy Wimsatt, Lisa Zaranek, Ron Danko and Kym Halsted of CBRE Hotels who represented the seller, McKibbon Hotel Group, in the transaction.

CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe. For more information, please visit our website at www.cbrehotels.com.

About CBRE – Hampton Roads
CBRE |Hampton Roads is an affiliate office of CBRE Inc. serving the Hampton Roads region. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; and valuation and appraisal. In 2013, the Hampton Roads offices completed over $1.2 billion in sales and leasing transactions. For more information about the Norfolk or Newport News offices, visit our websites, www.cbre.com/norfolk or www.cbre.com/newportnews.

About CBRE in the Mid-South Region
CBRE is the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville, and Fredericksburg, VA, and Raleigh and Greensboro, NC. These offices are collectively referred to as the Mid- South region. The CBRE Mid-South offices (excluding Northern Virginia and Charlotte, NC offices) completed $2.5 billion of sales and leasing transactions in 2013.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue).  The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.