Sunday, March 30, 2014

HFF closes sale of Holiday Inn Express & Suites Fort Lauderdale in Plantation, FL


Holiday Inn Express & Suites Fort Lauderdale located in Plantation, FL



Michael Weinberg
ORLANDO, FL – HFF announced it has closed the sale of the Holiday Inn Express & Suites Fort Lauderdale, a 156-room hotel in Plantation, Florida.

               HFF marketed the property on behalf of the seller, Vista Hospitality Company.  Waramaug LS Hotels, LLC purchased the offering free and clear of debt.

               The property is located at 1701 North University Drive less than five miles from Sawgrass Mills Mall and the BB&T Center and is proximate to major offices and headquarters for companies including Motorola, American Express and AT&T.

 Renovated in 2011, the hotel features 3,600 square feet of meeting space and amenities including an outdoor pool, fitness center and business center.

               The HFF investment sales team representing the seller was led by associate director Michael Weinberg along with director Max Comess and associate director Paul Hsu.

“We are seeing strong demand throughout Florida and the rest of the country for high-quality limited- and select-service assets with top brands,” commented Weinberg. 

Max Comess
Weinberg continued, “The seller did a masterful job on the renovations and ramping up the asset’s performance to get us to a point where there was strong demand from investors.  We chose a highly qualified, well-capitalized buyer that performed exactly as they promised they would.  This was a great execution for both parties.”

               HFF’s Hotel Group has been active in the sale and financing of similar upscale, select-service hotels across the country.  In 2013, the firm financed or sold 77 hotels and resorts, which included many select-service hotels, with sale prices and loan proceeds ranging from $5 million to more than $500 million.

               With offices in Kitchener, Ontario and Binghamton, New York, the Vista Hospitality Group owns and operates hotels, resorts and other commercial properties throughout Ontario, Quebec, New York, South Carolina and Florida. 

Offering more than 2,700 rooms, Vista has developed sophisticated information management systems that form the basis of a highly efficient and effective organizational structure.

Paul Hsu
 The Vista Management Executive Team is extremely diverse and has acquired a reputation for proven performance at all of its properties.  More information is available at www.vistahospitality.com.

Waramaug LS Hotels, LLC, based in Boca Raton, Florida, is a privately held investment group formed in 2013 by Paul Nussbaum, Paul Stern and another senior hotel professional.

Waramaug LS Hotels focuses on acquiring legacy branded select-service hotels in strong secondary and tertiary markets throughout the United States.


Kristen M. Murphy
Associate Director
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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