The 319-room DoubleTree in Atlanta was among the five hotels Lingerfelt sold at year’s end. (Photos courtesy Lingerfelt)
One of Richmond’s most prolific real estate players is closing out 2018 on a nine-figure selling spree.
Lingerfelt Commonwealth Partners announced over the last month the sale of five of its hotel properties across the southeast for a combined $92.5 million, as well as two of its medical office buildings in Chesterfield and Mechanicsville for a combined $50.9 million.
The seven properties fetched a total of $143 million.
On the hospitality side of the deal, Lingerfelt on Dec. 13 unloaded a handful of hotels it purchased in January 2015 for a combined $68.5 million.
Totaling 758 rooms, the portfolio is comprised of: a 170-room Fairfield Inn & Suites by Marriott in Lake Buena Vista, Florida; a 139-room Fairfield Inn by Marriott in Orlando; a DoubleTree by Hilton and Hampton Inn in Atlanta totaling 319 rooms; and a 130-room Courtyard by Marriott in Gastonia, North Carolina, near Charlotte.
The buyer was Florida-based hospitality firm AD1 Global.
Commonwealth Lodging Management, Lingerfelt’s hotel management and consulting affiliate of, managed all operations and repositioning of the five hotels over the last 3 years, including renovations totaling about $8.5 million.
Lingerfelt Commonwealth sold its OrthoVirginia building at 1115 Boulders Blvd. in Chesterfield County for $25.8 million, according to county records.
Its recent hotel portfolio sale comes weeks after Lingerfelt announced it had sold two of its medical office buildings at 1115 Boulders Blvd. in Chesterfield County and at 8200 Meadowbridge Road in Mechanicville to Nashville-based Montecito Medical Real Estate.
The 7-year-old, 70,000-square-foot Chesterfield building, which houses OrthoVriginia and HCA Health System, fetched $25.8 million, according to county property records. It was most recently assessed for $11 million.
Meanwhile, the 63,000-square-foot Mechanicsville facility that houses Bon Secours and OrthoVirginia was purchased for $25.1 million. It was most recently assessed by Hanover County for $13.1 million.
Lingerfelt Commonwealth is a real estate investment and management firm that owns and manages dozens of office, retail and hotel across the Southeast, with a bulk of a bulk of its holdings in the Richmond area.
The company owns 18 office buildings around Innsbrook in Henrico County, including the fully leased Microsoft Building at 4301 Dominion Blvd.; and the Innsbrook Commons building at 4121 Cox Road. It also owns the Reynolds Office Building I at 6641 W. Broad St. The firm is also the development arm behind the West Creek Medical Park in Goochland County.
The 319-room DoubleTree in Atlanta was among the five hotels Lingerfelt sold at year’s end. (Photos courtesy Lingerfelt)
One of Richmond’s most prolific real estate players is closing out 2018 on a nine-figure selling spree.
Lingerfelt Commonwealth Partners announced over the last month the sale of five of its hotel properties across the southeast for a combined $92.5 million, as well as two of its medical office buildings in Chesterfield and Mechanicsville for a combined $50.9 million.
The seven properties fetched a total of $143 million.
On the hospitality side of the deal, Lingerfelt on Dec. 13 unloaded a handful of hotels it purchased in January 2015 for a combined $68.5 million.
Totaling 758 rooms, the portfolio is comprised of: a 170-room Fairfield Inn & Suites by Marriott in Lake Buena Vista, Florida; a 139-room Fairfield Inn by Marriott in Orlando; a DoubleTree by Hilton and Hampton Inn in Atlanta totaling 319 rooms; and a 130-room Courtyard by Marriott in Gastonia, North Carolina, near Charlotte.
The buyer was Florida-based hospitality firm AD1 Global.
Commonwealth Lodging Management, Lingerfelt’s hotel management and consulting affiliate of, managed all operations and repositioning of the five hotels over the last 3 years, including renovations totaling about $8.5 million.
Lingerfelt Commonwealth sold its OrthoVirginia building at 1115 Boulders Blvd. in Chesterfield County for $25.8 million, according to county records.
Its recent hotel portfolio sale comes weeks after Lingerfelt announced it had sold two of its medical office buildings at 1115 Boulders Blvd. in Chesterfield County and at 8200 Meadowbridge Road in Mechanicville to Nashville-based Montecito Medical Real Estate.
The 7-year-old, 70,000-square-foot Chesterfield building, which houses OrthoVriginia and HCA Health System, fetched $25.8 million, according to county property records. It was most recently assessed for $11 million.
Meanwhile, the 63,000-square-foot Mechanicsville facility that houses Bon Secours and OrthoVirginia was purchased for $25.1 million. It was most recently assessed by Hanover County for $13.1 million.
Lingerfelt Commonwealth is a real estate investment and management firm that owns and manages dozens of office, retail and hotel across the Southeast, with a bulk of a bulk of its holdings in the Richmond area.
The company owns 18 office buildings around Innsbrook in Henrico County, including the fully leased Microsoft Building at 4301 Dominion Blvd.; and the Innsbrook Commons building at 4121 Cox Road. It also owns the Reynolds Office Building I at 6641 W. Broad St. The firm is also the development arm behind the West Creek Medical Park in Goochland County.