TAMPA, FL – HFF announced today that it has closed the sale of the DoubleTree Wilmington (top left photo), a 217-room, full-service hotel in downtown Wilmington, Delaware. HFF marketed the property exclusively on behalf of the seller, Credit Union Liquidity Services.
A joint venture between Driftwood Hospitality Management LLC and AGRE U.S. Real Estate Fund, L.P., a real estate investment fund managed and advised by an affiliate of Apollo Global Management, LLC, purchased the hotel for $12 million.
The DoubleTree Wilmington is located at 700 North King Street in Wilmington’s legal and financial district close to Interstate 95 and within walking distance to the Wilmington Amtrak Station.
Renovated in 2006, hotel amenities include 20,000 square feet of meeting and banquet space, an indoor pool, fitness facility, business center, café and lounge.
The DoubleTree Wilmington also features The Legal Center, a 3,200-square-foot facility with a conference room, private offices, a kitchen and several workstations with secure IT infrastructure for use by visiting counsels.
The HFF team representing the seller included senior managing director Dan Peek (top right photo) and directors John Bourret (lower left photo) and KC Patel (lower right photo).
Based in North Palm Beach, Florida, Driftwood Hospitality Management, LLC is a leader in providing solutions-based services for the domestic and international hotel industry.
Boasting extensive management experience and relationships with most major hotel franchising companies, Driftwood covers the full spectrum of lodging business needs, from mid-size extended-stay to limited-service properties, boutique hotels and full-service resorts featuring spas, restaurants and convention centers.
Currently, Driftwood’s focus is on strategic acquisition, development, third-party management and receivership. Driftwood has additional offices in Costa Rica, Scottsdale, Arizona and Miami, Florida. In the past three years alone, the company and its hotels have received more than 20 industry awards.
For more information, visit www.DriftwoodHospitality.com.
Contacts:
Daniel Peek, HFF Senior Managing Director, (813) 870-1001, dpeek@hfflp.com
John Bourret, HFF Director, (214) 265-0880,
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,
No comments:
Post a Comment