Press Release brought to you by HFF

HFF announces sale of Aloft hotel near Jacksonville International Airport

01/31/2018

ORLANDO, FL – January 31, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Aloft Jacksonville Airport, a 136-room, select-service hotel three miles from Jacksonville International Airport in Jacksonville, Florida.

The HFF team marketed the property on behalf of the seller, Peachtree Hotel Group.  Gehr Hospitality purchased the asset.

Developed in 2009, Aloft Jacksonville Airport is the newest hotel in the Airport submarket.  The five-story hotel features 600 square feet of meeting space, WXYZ bar and guest lounge with pool tables, Re:charge 24-hour gym, business center, Splash outdoor pool, Camp Aloft for kids and Re:fuel by Aloft grab-and-go area for light meals.  Located at 751 Skymarks Drive, the hotel is within walking distance to 900 million square feet of retail shops and restaurants at RiverCity Marketplace, a shopping and entertainment complex.  Additionally, Aloft Jacksonville Airport is 10 miles north of downtown Jacksonville and a short drive to nearby beaches.

HFF’s investment advisory team included senior managing director Michael Weinberg and directors Preston Reid and Alexandra Lalos.

“The city of Jacksonville is one of the fastest growing employment centers in the United States, and year-over-year RevPAR growth of 7.2 percent proves that hotels are reaping the benefits,” Lalos said.

“The transaction marked a successful investment for the seller and a strong first entry into the Jacksonville market for the buyer. HFF is proud to have arranged the sale,” added Reid.

About Peachtree Hotel Group
Peachtree Hotel Group operates, develops and invests in premium-branded, select- and limited-service and extended-stay hotel assets under the Marriott, Hilton, Hyatt, Choice and InterContinental Hotels Group flags. Since its inception, Peachtree has invested in more than $1.6 billion of hotel properties and first mortgage notes. Peachtree's current portfolio is comprised of 87 hotel assets totaling 10,147 rooms, including 38 real estate assets and 49 notes.  Visit peachtreehotelgroup.com for more information.

About Gehr Hospitality
Gehr Hospitality, a wholly owned subsidiary of The Gehr Group (gehr.com), is a hospitality-focused investment firm based in Los Angeles, California. Gehr Hospitality and its affiliates own a wide range of hotel, nightlife, residential and commercial real estate assets throughout the United States.

Over the last five decades, The Gehr Group has established a successful track record investing in and operating over $1 billion of hotels, multifamily, office, retail and industrial real estate properties and creating substantial value through opportunity sourcing and hands-on asset management. The company is currently expanding its real estate portfolio through the acquisition and development of additional hospitality and multifamily real estate assets. Visit gehrhospitality.com for more information.

About HFF
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF

Source

HFF

Want more news about HFF? Click here