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| The Lodge at Gainesville, 3726 SW 40th Boulevard, Gainesville, FL |
ORLANDO, FL
– June 11, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it
has closed the $12.1 million sale of The Lodge at Gainesville, a 208-room,
select-service, independent hotel near the University of Florida in
Gainesville.
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| Daniel C. Peek |
HFF marketed
the property on behalf of the seller.
CrossHarbor Capital Partners LLC purchased the offering free and clear
of debt.
GF Management will continue to
manage the hotel.
Known for
its nightly two-hour cocktail reception in its atrium, The Lodge at Gainesville
caters to both business and leisure travelers.
In 2014, the hotel received TripAdvisor’s Certificate of Excellence
Award given to establishments that received outstanding traveler reviews on
TripAdvisor, one of the world’s largest travel sites.
Formerly
branded as a Cabot Lodge, the three-story hotel features a fitness center,
business center, 810 square feet of meeting space with audio and visual
equipment, outdoor swimming pool and hot tub, barbeque grills and a
complimentary continental breakfast buffet.
Located at 3726 SW 40th Boulevard just off Interstate 75 in the heart of
Gainesville’s largest retail corridor, the hotel provides guests access to the
University of Florida, which is two miles east of the hotel; Shands Hospital
and two new retail developments, Celebration Pointe and Butler Plaza
North/Butler Plaza Towne Center, both within one mile of the hotel.
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| Michael Weinberg |
The HFF
investment sales team representing the seller was led by senior managing
director and head of HFF’s hotel group Daniel
C. Peek, director Michael Weinberg
and real estate analysts Anthony
Frogameni and Preston Reid.
”This asset
had what many buyers are looking for from an investment profile perspective,
considering it was a lender-owned asset, in a strong location and had
brand-conversion potential,” Weinberg said.
“The sales process became extremely competitive prior to buyer
selection. Both buyer and seller were
very professional and great to work with.”
“The Lodge
represents a great opportunity for value-add hotel investors in the Gainesville
market, one of the strongest university-centered markets in the U.S.,” Peek
added. “Investors were clearly attracted
to the investment given the variety of execution alternatives and the
underlying quality of the location.”
HFF’s Hotel
Group has had particular success in closing hotel transactions in Florida
including the recent sales of the Waldorf Astoria Naples (now Naples Grande
Resort) and the Hilton Clearwater Beach Resort.
The firm also closed the sale of the La Playa Beach Resort in May.
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
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