INTERNATIONAL REPORT—Sales are taking place across hospitality. Here’s a look at the recent deals from Hodges Ward Elliott, DSH Hotel Advisors, CBRE and Naramata Hospitality Limited:
Hodges Ward Elliott Arranges Sale of Hammock Beach Resort
Hodges Ward Elliott (HWE) represented a private equity real estate fund in the recent sale of Hammock Beach Resort, an oceanfront golf resort covering more than 650 acres in Palm Coast, FL. An HWE team composed of William Hodges, Nate Ries and Coby Campbell represented the seller in the transaction. The resort has 333 rental units, two golf courses, 50,000 sq. ft. of indoor and outdoor meeting space, dining venues, a 209-slip marina, pools, fitness centers, a waterpark, tennis center and a spa.
DSH Hotel Advisors Closes on Sale of The Microtel Inn & Suites Zephyrhills
DSH Hotel Advisors closed on the Microtel Inn & Suites by Wyndham—Zephyrhills, Florida for $4 million. Dennis Hopper, managing principal, and Randy Taylor, investment associate, represented the buyer, Blueturn LLC and the seller, Nilkanth Hotel LLC. The 63-room property is located in the Tampa Bay area.
CBRE Arranges Sale of Baymont Inn & Suites in Galesburg, IL
CBRE recently represented Auburn Classic Hotel Group LLC in the sale of Baymont Inn & Suites, a 72-room hotel in Galesburg, IL, to Pat Patel. Nate Sahn, James Foxx and Pravin Boteju of CBRE Chicago represented the seller in the transaction. The property was recently converted to a Baymont Inn & Suites from a Holiday Inn Express in 2016, needing minimal renovations.
The Naramata Hospitality Limited Partnership Takes Ownership of the Naramata Inn
Naramata Hospitality Limited Partnership has taken ownership of the Naramata Heritage Inn in Naramata, BC, in Canada on the shore of Okanagan Lake. Constructed 113 years ago by the town’s founder, J.M. Robinson, the Naramata Inn would welcome some of the Okanagan’s first tourists. The partners want to build on that legacy and write the inn’s next chapter based on culinary experiences, Okanagan hospitality and a commitment to local artisanship.