The Holiday Inn Express & Suites Plantation is the latest hotel to be acquired through a $50 million equity Joint Venture and related $100 million debt facility raised by Hospitality Funding, LLC. Hospitality Funding advised the buyer group, which consists of a leading hospitality asset management firm and a US-based investment management company. Management of the 156-room hotel has been transferred to Interstate Hotels & Resorts.
When assessing the transaction, Hospitality Funding considered the following:
● The property offers 16 suites, an on-site health and fitness center, outdoor pool, business center, and flexible meeting space.
● The hotel underwent its most recent renovation in 2012.
● The hotel is located 15 minutes from the Fort Lauderdale-Hollywood International Airport, and a short drive from Sawgrass Mills shopping mall, Sawgrass Corporate Park and the BB&T Center, a major event venue and home to the Florida Panthers professional hockey team.
● The hotel is adjacent to the regional headquarters of Motorola as well as corporate hubs for such companies as American Express and AT&T.
● Only 10 minutes from the beach, the property offers convenience for leisure travels as well as the business community.
● The property offers easy access to all of the museums, events, restaurants, shopping, and tropical weather activities that the booming Ft. Lauderdale market offers.
About Hospitality Funding LLC: Hospitality Funding is a boutique investment advisory firm focused on raising equity, mezzanine, and debt financing for the acquisition of all types of hospitality assets. Hospitality Funding works with superior owner-operators to find capital solutions that fit their specific goals for property acquisitions. For more information, please visit www.hospitalityfunding.com