Parallel49’s Avison Young buys U.S. hotel real estate brokerage

Avison Young Inc has acquired Hotel Assets Group LLC, an Atlanta, Georgia-based hotel real estate brokerage company. No financial terms were disclosed. With the deal, Toronto-based Avison, a commercial real estate services provider, launched a new hospitality service line that will operate across the United States. Avision, which over the past eight years has grown from 11 to 79 offices, is a portfolio company of Canadian private equity firm Parallel49 Equity. Between 2011 and 2015, it was backed by the firm’s predecessor, Tricor Pacific Capital.

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