Tuesday, July 4, 2017

HFF closes sale of Daytona Beach, FL beachfront hotel

Hampton Inn Daytona Beach/Beachfront Hotel, 
                                      1024 North Atlanta Avenue, Daytona Beach, FL                                                   
                                                                                                              (Photo by Troy Morgan)

ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of the Hampton Inn Daytona Beach/Beachfront, a 90-room, select-service beachfront hotel in Daytona Beach, Florida

HFF marketed the property on behalf of the seller, Humphrey Realty Corp.  Driftwood Acquisitions & Development LP, an affiliate of the hotel management company Driftwood Hospitality Management, LLC, purchased the asset free and clear of debt and unencumbered of management.

Alexandra Lalos
Formerly known as the Ocean Sands Hotel, the eight-story Hampton Inn Daytona Beach/Beachfront underwent a complete renovation and brand conversion to a Hampton Inn in 2013. 

The hotel features a heated outdoor pool with pool bar, pool deck, whirlpool, fire pit and children’s splash pad; fitness center that overlooks the pool deck and Atlantic Ocean; business center; on-site convenience store; and 266 square feet of meeting space. 

Located at 1024 North Atlantic Avenue, Hampton Inn Daytona Beach/Beachfront is directly on the sand of Daytona Beach, one of the most frequently visited coastal destinations on the East Coast.

Preston Reid
 The hotel is proximate to popular Daytona destinations, including Daytona International Speedway, Daytona Beach Boardwalk, Ocean Center convention center and the LPGA International Golf Course.

The HFF investment sales team representing the seller was led by associate directors Preston Reid and Alexandra Lalos and senior managing director Michael Weinberg.

“The seller executed a fantastic overhaul to this hotel, converting it from a capital-starved independent hotel to one of the most powerful brands around in the Hampton Inn by Hilton,” Weinberg said.  “This made it very desirable to a competitive field of buyers.”
"There continues to be a significant amount of equity and debt capital available for premium-branded, select-service assets in Florida, especially in high growth markets like Daytona Beach," Reid added.
For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


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