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| Holiday Inn Resort Lake Buena Vista, FL |
ORLANDO, FL – HFF announced today that it has closed the
sale of the Holiday Inn Resort Lake Buena Vista, a 503-room hotel in
Orlando, Florida.
HFF
marketed the property on behalf of the seller, Vista Hospitality Company. ROCH Capital purchased the asset free and
clear of debt.
According to RCA (Real
Capital Analytics), this is the largest hotel sale brokered in Orlando in
2014. Portfolio Hotels is going to be
managing the asset on behalf of ROCH Capital.
The hotel is part of a three-property portfolio HFF is
marketing on behalf of Vista that also includes the Crowne Plaza Orlando
Downtown (on the market) and the Holiday Inn Express & Suites Fort
Lauderdale (closed in March).
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| Michael Weinberg |
The
Holiday Inn Resort Lake Buena Vista, a Walt Disney Good Neighbor Hotel, is
located at 13351 S. Apopka Vineland Road proximate to Walt Disney World Resort
and the Orlando International Airport.
Significantly renovated in 2012, the property includes a mix
of suites including a presidential, kids and junior suites, as well as spacious
traditional guest rooms.
The hotel features 7,000 square feet of meeting space, a
resort-style outdoor swimming pool, a new Applebee’s Neighborhood Grill &
Bar, as well as a fitness center, basketball court, children’s club, gift shop
and business center.
The
HFF investment sales team representing the seller was led by director Michael
Weinberg along with director Max Comess.
“The seller underwent a massive renovation to convert this
asset from exterior to interior corridors.
This process was unique and gave them a product offering that exceeds
the expectations of guests with oversized rooms relative to the
competition. Customers love it!” said
Weinberg.
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| Max Comess |
“We are seeing a tremendous amount of debt and equity
capital pour into the hospitality sector.
There just isn’t enough supply of transactions on the market to meet the
demand which is creating competition from buyers and lenders,” added Weinberg.
HFF’s
Hotel Group has been active in the sale and financing of similar upscale hotels
across the country. In the last 24
months, the firm financed or sold more than $1 billion of hospitality
properties in Florida.
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.
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.
For a complete copy of the company’s news release, please
contact:
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
