CHARLOTTE, NC—Holliday Fenoglio Fowler L.P. (HFF) has closed the $13.6 million sale of the Crowne Plaza Greenville-I-385-Roper Mountain Rd., a 203-room, premium-branded full-service hotel in Greenville, SC.
HFF marketed the property on behalf of the seller. Greenville Hospitality Holdings LLC purchased the asset free and clear of debt and unencumbered of management. The hotel was built in 1984 and received more than $1 million in renovations within the last year following a $4.4-million renovation in 2014.
The six-story hotel features 7,000 sq. ft. of function space, a business center, 24-hour fitness center, indoor heated pool, lobby bar and Ruth’s Chris Steak House. Located at 851 Congaree Rd. in the eastern part of Greenville, the property is five miles from downtown and eight miles from Greenville-Spartanburg International Airport.
The HFF investment sales team representing the seller was led by Chris Lingerfelt, associate director; Cyrus Vazifdar, director; and Alexandra Lalos, associate director.
“The Crowne Plaza Greenville offers a tremendous opportunity to acquire a newly renovated hotel in Greenville’s flourishing hotel market,” Lingerfelt said. “Capital from all over is taking an interest in the city’s vibrant economy, which generated a very competitive sale process. We expect to see more capital targeting this region in the year ahead.”