Lingerfelt acquires Florida hotel for $24.7M

Lingerfelt acquired the Hilton Garden Inn | Homewood Suites hotel in Jacksonville, Florida. (Courtesy Lingerfelt Commonwealth)

Lingerfelt acquired the Hilton Garden Inn | Homewood Suites hotel in Jacksonville, Florida. (Courtesy Lingerfelt Commonwealth)

Note: The original version of this story reported a purchase price that was incorrect. The amount has been corrected.

A local real estate firm continues to add to its holdings in the Sunshine State.

Lingerfelt CommonWealth Partners has acquired the dual-branded Hilton Garden Inn | Homewood Suites hotel in downtown Jacksonville, Florida.

The deal closed Tuesday, according to Lingerfelt managing director Kenneth Strickler. The purchase price was $24.7 million.

The select-service and extended-stay hotel was constructed in 2009, Strickler said. The complex is comprised of a 123-room Hilton Garden Inn and a 98-room Homewood Suites.

Commonwealth Lodging Management, the company’s hotel management affiliate, will manage the property.

The purchase is one of a number of recent acquisitions and sales the Henrico-based firm has made in the Southeast.

Last summer, the firm purchased the 10-story, nearly 200,000-square-foot Stein Mart Building in Jacksonville for $26.62 million.

In December, the firm sold the 28-story, 441,000-square-foot Riverplace Tower in Jacksonville for $53.4 million, and acquired two office towers in Greenville, South Carolina.

In Richmond, Lingerfelt has a sizable portfolio of offices around Innsbrook, as well as the nearby Marriott Hotel. The firm is also the development arm behind the West Creek Medical Park in Goochland County, which is expanding to accommodate new medical tenants.

Lingerfelt acquired the Hilton Garden Inn | Homewood Suites hotel in Jacksonville, Florida. (Courtesy Lingerfelt Commonwealth)

Lingerfelt acquired the Hilton Garden Inn | Homewood Suites hotel in Jacksonville, Florida. (Courtesy Lingerfelt Commonwealth)

Note: The original version of this story reported a purchase price that was incorrect. The amount has been corrected.

A local real estate firm continues to add to its holdings in the Sunshine State.

Lingerfelt CommonWealth Partners has acquired the dual-branded Hilton Garden Inn | Homewood Suites hotel in downtown Jacksonville, Florida.

The deal closed Tuesday, according to Lingerfelt managing director Kenneth Strickler. The purchase price was $24.7 million.

The select-service and extended-stay hotel was constructed in 2009, Strickler said. The complex is comprised of a 123-room Hilton Garden Inn and a 98-room Homewood Suites.

Commonwealth Lodging Management, the company’s hotel management affiliate, will manage the property.

The purchase is one of a number of recent acquisitions and sales the Henrico-based firm has made in the Southeast.

Last summer, the firm purchased the 10-story, nearly 200,000-square-foot Stein Mart Building in Jacksonville for $26.62 million.

In December, the firm sold the 28-story, 441,000-square-foot Riverplace Tower in Jacksonville for $53.4 million, and acquired two office towers in Greenville, South Carolina.

In Richmond, Lingerfelt has a sizable portfolio of offices around Innsbrook, as well as the nearby Marriott Hotel. The firm is also the development arm behind the West Creek Medical Park in Goochland County, which is expanding to accommodate new medical tenants.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected]

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMEBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments