|International Drive, Orlando, FL|
Friday, January 29, 2016
MIAMI BEACH, FL, Jan. 29, 2016 — The Four Points by Sheraton Orlando Studio City on International Drive was sold for $23M. GLT Group Brokerage represented the buyer; a Tampa-based private individual, and GLT Group also procured the seller; an out-of-state hotel group.
The hotel is a 21-story, 301 room full-service hotel located on the famous International Drive, directly across from Universal Studios. It has been flagged under Starwood's Four Points by Sheraton since 2007. The buyer is planning a multi-million-dollar renovation and upgrades, bringing the hotel back to its glamour era.
“The Orlando market has evolved since the downturn and has become exciting for many investors due to its reputation for local and foreign visitors”, says Sean Shahar A. Ziv, President of The GLT Group Brokerage. He added: “It was a quick closing, which indicated the strength of the buyer”.
The purchase price represents approximately $76,400 per key.
GLT Group Brokerage is the brokerage arm of The GLT Group LLC, an advisory and investment firm specializing in diversified real estate investments and related strategies.
The GLT Group focuses on all forms of commercial real estate and commercial real estate debt and finance. Together with its strategic affiliates worldwide, The GLT Group continues to pursue opportunities throughout North America.
For a complete copy of the company’s news release, please contact:
Office: 940 Lincoln Road Suite #302
Miami Beach FL 33139
License CA 01918311
License FL SL3278866
+1 (305) 397-8375 Office
+1 (858) 248-3980 US mobile
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Posted by Alex at 10:31 AM