 |
| Candlewood Suite Bluffton/Hilton Head, SC |
ORLANDO, FL –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a two-property
Candlewood Suites portfolio totaling 249 rooms in Charleston and
Bluffton/Hilton Head, South Carolina
HFF marketed the property
on behalf of the seller, Liberty Group.
Affiliates of DC Hospitality Group, LLC purchased the assets
unencumbered of debt and existing management.
Liberty Group acquired the hotels in 2013 and 2014 through its
private-equity vehicle, Liberty Hospitality Fund I, LLC.
 |
| Candlewood Suites Charleston, SC |
The portfolio comprises
the 125-room Candlewood Suites Charleston and the 124-room Candlewood Suites
Bluffton/Hilton Head. Both four-story
hotels are pet friendly and feature the Candlewood Cupboard, sundry shop, an
outdoor gazebo grill and 24-hour fitness center.
The Candlewood Suites
Charleston was developed in 2007 and renovated in 2014.
Situated on 3.26 acres at 2177 Northwoods
Boulevard in North Charleston, the hotel is adjacent to Interstate 26 and is
proximate to Charleston International Airport.
The Candlewood Suites Bluffton/Hilton Head was developed in 2010 and
renovated in 2014.
In addition to the above-mentioned amenities,
the hotel has an outdoor pool. The
Candlewood Suites Bluffton/Hilton Head is housed on 3.3 acres at 5 Young Clyde
Court in the Bluffton/Hilton Head area, which is one of the most popular
tourist destinations in the southern United States with 2.5 million annual
visitors.
 |
| Michael Weinberg |
The hotel is in the epicenter of the
10,000-acre Sun City Hilton Head master-planned community situated along US
278, the primary thoroughfare to Hilton Head Island.
The HFF team was led by
senior managing director Michael Weinberg,
associate director Preston Reid and
director Chris Lingerfelt.
“The sale of these hotels
represented the successful full-cycle execution of our fund investment
strategy,” stated Punit Shah, Chief
Executive Officer of Liberty Group. “The sale of these assets validates the
appeal of select-service and extended-stay hotels to both institutional and
strategic purchasers.”
“The portfolio offers a
tremendous opportunity to acquire two strong-performing assets in flourishing
areas across the Southeast,” Lingerfelt said.
“Both the Charleston and Bluffton/Hilton Head lodging markets are
supported by healthy demand generators and are poised for long-term growth.”
“We continue to see robust interest for
branded select-service and extended-stay assets in strong southeastern markets,
especially when they have a strong going-in yield coupled with below
replacement cost pricing,” Reid added.
For a
complete copy of the company’s news
release, please contact:
Kristen Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | cell
617.543.4873 | www.hfflp.com
No comments:
Post a Comment