ATLANTA—Hunter Hotel Advisors has represented a Virginia-based hotel group in the sale of the Holiday Inn Express & Suites Jacksonville South I-295, FL.
A regional investor purchased the hotel for $7.8 million and plans to spend $1.2 million to upgrade the hotel, which was built in 2001 and fully renovated in 2014. The new owner was attracted to the potential upside of the high performing, strong cash flowing asset, according to the company.
Hunter’s Trey Scott in the Jacksonville, FL office and, Shamir Patel in the Orlando, FL office worked together on the transaction. The company’s recent Florida transactions include the sale of the Hampton Inn Busch Gardens; Hyatt Place Sarasota, Springhill Suites Clearwater; Hampton Inn Melbourne; Staybridge Suites St. Petersburg; and the Holiday Inn University Pensacola.