SVN Florida and SVN Stone in Kentucky Collaborate on Two-Hotel Transaction in Punta Gorda, Florida
Unique purchase involved two buyers with simultaneous closings
Punta Gorda, Florida (May 2, 2016) – SVN Florida senior advisor Natvar Nana, in close collaboration with a fellow advisor from SVN Stone in Kentucky, spearheaded the sale of two hotels in Punta Gorda. The Hampton Inn at 24480 Sandhill Blvd. and the nearby Holiday Inn Express at 24440 Sandhill Blvd. recently sold for undisclosed prices.
The transaction is unique as the hotels were owned by a single entity, Lexington, Kentucky-based Charlotte Host, LLC., and the assignment called for a package sale. Finding it a challenge to secure one buyer, Nana found two buyers who were willing to enter into a conditional sale wherein the two contracts had to have a synchronized timing and the buyers were required to work seamlessly to complete a simultaneous closing.
“I can’t recall a transaction involving two buyers going as smoothly as this one,” said Nana, who represented the buyers. “This was a true representation of the SVN philosophy of applying teamwork to best serve the clients.”
Nana collaborated with Earl Brady of SVN Stone in Kentucky, who represented the seller.
Sandhill Holdings, LLC, of Lehi, Utah, is the buyer of the 71-room Hampton Inn and Luxmi Patel of Port Charlotte, LLC, is the buyer for the 68-room Holiday Inn Express. The Hampton Inn was built in 1997 and The Holliday Inn Express in 2003. Although both hotels were renovated in 2014 for brand upgrades, each will undergo an extensive property improvement plan.
SVN is built on a philosophy of teamwork. It’s a client-first approach that features compensated cooperation among advisors and co-brokers to produce maximum results for buyers and sellers of commercial real estate assets.
“This is a perfect example of how well SVN’s compensated cooperation between advisors works,” Nana said. “It’s a win-win for everyone involved.”
SVN, a commercial real estate brokerage franchisor headquartered in Boston, MA, is one of the industry's most recognized brands based on the annual Lipsey Top Brand Survey. With more than 190 locations in 500 markets, SVN Commercial Real Estate Advisors provide sales, leasing, and property management services to more than 5,550 clients worldwide. The Florida team consists of more than 90 Advisors serving locations throughout the state. SVN Advisors represent clients in office, multifamily, retail, industrial, self-storage, hospitality, marina, mobile home park and land transactions. All SVN offices are independently owned and operated. For more information on SVN Florida, visit www.svnflorida.com. For the latest news, trends and issues related to the commercial real estate market, visit SVN Florida's blog http://svnflorida.com/real-estate-blog.
Ken Zeszutko, Zeszutko Corp.-PR on behalf of SVN Florida
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