David Butchello
Thalhimer • United States of America
David Butchello
Thalhimer • United States of America
David Butchello is Vice President of Hospitality with Cushman Wakefield | Thalhimer and leads the Hotel brokerage practices for the company. David has over 20 years experience as an owner operator of hotels and restaurants as well as development experience with retail and warehouse space. Throughout his career David has experienced both the success and joys of owning a business as well as the challenges of running a business through funding challenges, forbearance, and workout. David has experiences of both buying and selling his own businesses which have provided him the ability to help his clients with advisory services for owners, lenders, developers, and management organizations. David has also been hired to provide economic profiles for hotels by lenders and investors.
David has been in brokerage for 17 years with a focus on Hospitality properties over the past 15 years. David has worked with Blackstone as seller’s representative for the Wyndham at the Richmond airport along with working with Choice, Wyndham, Hilton, Vantage, Marriott and IHG buyers, sellers, and developers. Non-hospitality transactions include NNN sales (Eckerd Drug stores), land transactions, retail and office sales and leasing.
David successfully closed several million in gross sales transactions including the Wyndham at the Richmond airport representing Blackstone as the Seller. Other transactions include working with Choice Hotels, Wyndham Brand Hotels, Hilton Hotels & Holiday Inn Hotels. Non-hospitality transactions include Eckerd Drug stores and independent property owners.
- • Successfully represented REO lender in the Sale of a un-flagged 250 room full service hotel that had been closed nearly one year resulting in a sale at auction in 2012
• Represented Buyer in acquisition of a Days Inn hotel. Buyer plans conversion to new brand.
• Represented Seller in the sale of a 131 room under-performing economy property. Buyer plans to remodel and reposition hotel.
• Represented a developer/buyer in the sale of a Suite Hotel property for conversion to Student housing.
• Represented Buyer in acquisition of a Days Inn Hotel Inn. Buyer plans complete renovation.
• Represented Buyer in acquisition of a Marriott Courtyard. Buyer renovating and rebranding.
• Represented Seller in sale of 250 room full service Lexington brand hotel. Buyer plans conversion to Senior Living.
• Represented Landlord in Lease to Five Guys Burgers.
• Successfully represented both the buyer and seller in a complicated divesture of a non-core 155 room hotel asset of a publicly traded private equity company.
• Completed the divesture of a 160 room hotel for a client representing both buyer and seller. Advised and represented the seller of the hotel property in a 1031 transaction culminating in the purchase of an absolute net leased investment
• Represented the seller and negotiated the sale of an 80 room hotel to accommodate the expansion plans of a Prime Outlets Retail center. The deal included successfully negotiating early termination of a leased restaurant facility and early termination of the franchise agreement with all related costs paid by the buyer
• Represented lender in disposition of a 250 room full service hotel
• Virginia Real Estate Broker
• Certified Hotel Administrator (CHA)
• Certified Commercial Investment Manager (CCIM), Candidate
• New York State Hospitality & Tourism Association
• American Hotel & Motel Association
• National Restaurant Association
