DoubleTree in South Carolina’s Capital City Sold

COLUMBIA, SC—The DoubleTree by Hilton located here has been sold. Newmark Grubb Knight Frank (NGKF) represented the seller, Columbia Hotel and Conference Center LLC. North Carolina-based TT&C Hotel Group LLC/Smith Curry Hotel Group purchased the five-story property for an undisclosed amount. The buyer plans significant renovations to retain the DoubleTree by Hilton affiliation.

“The DoubleTree has substantial meeting space and the largest ballroom in the market, allowing it to effectively compete for group business to complement its transient market share. The buyer sought to expand its existing Charlotte portfolio and capitalized on an opportunity to acquire the property at a discount to the current market replacement costs,” said Sam Winterbottom, executive managing director, NGKF. “Meanwhile, the seller disposed of a non-strategic asset and recycled capital into Augusta, GA, where it’s based.”

The hotel offers 237 guestrooms, 23,000 sq. ft. of event/meeting space, a lounge, an on-site restaurant, an outdoor swimming pool, business center, fitness center and gift shop. Nearby destinations include the University of South Carolina, the South Carolina State House, the Columbia Metropolitan Convention Center, the central business district and The Vista, a live-work-play area.