Excel Group has sold four Florida hotels for $58.5 million. The buyer was not identified. Included in the sale are the Hilton Garden Inn Tampa North, the Hilton Garden Inn Oldsmar and the Hampton Inn Oldsmar.
ARLINGTON, Va., Nov. 28, 2017 /PRNewswire/ — Washington DC-based real estate investment firm Excel Group has announced its recent sale of a four-hotel 469-key portfolio for $58.5 million. The portfolio includes the 148-room Hilton Garden Inn Tampa North, 83-room Hilton Garden Inn Oldsmar, the 110-room Hampton Inn Oldsmar and the 128-room Hyatt Place Lake Mary.
“This sale signifies a milestone for the Excel Group as it represents another major portfolio that we have taken full cycle – from acquisition through disposition,” remarked managing partner Shoham Amin. “This transaction typifies our ability to take core-plus assets and significantly improve operational performance to achieve opportunistic returns.”
This sale represents the second major transaction for Excel Group this year. In May 2017, Excel Group acquired the 200-key Hyatt Place Washington DC/US Capitol.
For more information, please contact Shoham Amin, Managing Partner of Excel Group at firstname.lastname@example.org.
ABOUT EXCEL: Excel Group is a Washington, D.C.-based private equity firm that owns, develops, and asset manages hotels in high-growth markets across the Eastern U.S. Excel Group is focused on disciplined, cycle-appropriate hotel real estate acquisitions and asset management.