Mr. Belfrage is a vice president for CB Richard Ellis’ Columbus office and serves as a member of the Investment Properties and CBRE | Hotels groups.  He is directly responsible for the acquisition and disposition of hotels on a local, regional and national level.  Eric’s professional knowledge includes 30 years of experience in the hospitality industry and is very well known and respected for his knowledge of hotel properties throughout the Midwest.  Eric holds the Counselor of Real Estate (CRE) designation as well as being a member of the International Society of Hospitality Consultants (ISHC) and the Appraisal Institute (MAI Designation).

Prior to joining CB Richard Ellis, Eric served as Managing Director of Integra Realty Resources, previously known as Lorms & Belfrage. Completion of hundreds of hotel appraisals, feasibility studies, and market studies has been excellent preparation for assisting clients in the marketing process. In today’s environment, special servicers and REO departments, as well as individual owners need the assistance of a broker with practical analytical skills, and a deep understanding of value. Buyers understand that “value is created by the anticipation of future benefits”.

Marketing hotels in the current environment requires that the broker convey a convincing and achievable perception of the income potential of a hotel. Coming out of a recessionary period where incomes may have been depressed and conveying future improvements necessitates a learned analysis of trends and perceptions. Since joining CB Richard Ellis Investment Properties |CBRE Hotels in 2006, Eric has employed these skills to transact over $100 million of hotels within the Midwest, central, and south regions of the US.

Mr. Belfrage has successfully marketed hotels through the auction process in conjunction with the CBRE Auction Services Group. Clients are pleased with this format as the two teams (hotel brokerage, and auction services) combine talents to broadly expose hotels through print media and local/regional advertizing as well as directly through brokerage relationships. This format is frequently considered and is a compliment to more traditional brokerage services.

Achievements

• Author, "The Columbus Lodging Forecast"
• Author, "A New Strategy for Identifying Intangible Assets in Lodging Valuation" (AI Journal)

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