BridgeInvest has closed on a $24.5 million loan to support the acquisition and renovation of two Marriott properties in Ocala, FL.
The properties include a 169-key Courtyard by Marriott and an 87-key Residence Inn by Marriott. The sponsor, Harborview Capital Group, acquired the portfolio from American Hotel Income Properties for $26.5 million and plans to renovate both properties. Renovations will include updates to exteriors, soft goods, furniture, painting, flooring, bathrooms and lobbies, with completion expected by year-end 2025.
The properties are positioned off I-75 and are less than a 15-minute drive from the World Equestrian Center, one of Ocala’s most notable attractions. In addition to being the home to the World Equestrian Center, Ocala is experiencing rapid population growth and was listed as the 4th fastest growing metro area in the U.S. between July 2022 and July 2023. Ocala is also located just north of The Villages which is the number 1 fastest growing metro area for the same period per the U.S. census.
The post BridgeInvest closes $24.5M FL loan appeared first on hotelbusiness.com.
Appeared first on: hotelbusiness.com
Sydney Heritage Hotel, Hotel Woolstore 1888, Completes Transition to Accor's Handwritten Collection
The historic Hotel Woolstore 1888 Sydney & Handwritten Collection has officially completed its transition in joining Accor’s global portfolio of boutique hotels within Handwritten Collection, following its purchase by the hotel’s new owners, Shakespeare Property Group. Appeared first on: hotelnewsresource.com … [Read More...]
Accor Introduces Handwritten Collection Brand to Saudi Arabia.
Scheduled to debut in 2027, the Handwritten Collection Al Baha will be situated on the outskirts of Al Baha City, in a stunning mountainous landscape overlooking the Red Sea coast. Appeared first on: hotelnewsresource.com … [Read More...]
Grand Mercure Dubai Downtown Hotel Announced
Accor announced the signing of Grand Mercure Dubai Downtown, the latest addition to its portfolio of premium hotels in partnership with Gulf Hotels Group. The signing ceremony was held during the Future Hospitality Summit on 1st October in Dubai. Appeared first on: hotelnewsresource.com … [Read More...]
Grand Mercure Wuhan International Expo Center Opens in China
An Additional Six Grand Mercure Hotels set to Open in Greater China Before end Of 2024 Appeared first on: hotelnewsresource.com … [Read More...]
Dual&Branded AC Hotel and Moxy Hotel Breaks Ground in Dallas
The hotel is expected to open in Summer 2026 Appeared first on: hotelnewsresource.com … [Read More...]