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| Four Points Sheraton Orlando Studio City Hotel, 5905 International Drive, Orlando, FL 32819 |
MIAMI BEACH, FL, Jan. 29,
2016 — The Four Points by Sheraton Orlando Studio City on International Drive
was sold for $23M. GLT Group Brokerage represented the buyer; a Tampa-based
private individual, and GLT Group also procured the seller; an out-of-state
hotel group.
The hotel is a 21-story,
301 room full-service hotel located on the famous International Drive, directly
across from Universal Studios. It has been flagged under Starwood's Four Points
by Sheraton since 2007. The buyer is
planning a multi-million-dollar renovation and upgrades, bringing the hotel
back to its glamour era.
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| International Drive, Orlando, FL |
“The Orlando market has
evolved since the downturn and has become exciting for many investors due to
its reputation for local and foreign visitors”, says Sean Shahar A. Ziv,
President of The GLT Group Brokerage. He added: “It was a quick closing, which
indicated the strength of the buyer”.
The purchase price
represents approximately $76,400 per key.
GLT Group Brokerage is the
brokerage arm of The GLT Group LLC, an advisory and investment firm
specializing in diversified real estate investments and related strategies.
The GLT Group focuses on all forms of
commercial real estate and commercial real estate debt and finance. Together with
its strategic affiliates worldwide, The GLT Group continues to pursue
opportunities throughout North America.
For a complete copy of the company’s news release,
please contact:
Ran Ziv
Office: 940 Lincoln Road
Suite #302
Miami Beach FL 33139
License CA 01918311
License FL SL3278866
+1 (305) 397-8375 Office
+1 (858) 248-3980 US mobile
+86-132-6253-3594 China mobile