January 20, 2023
HREC Investment Advisors is pleased to announce it has arranged the sale of the 118-guestroom Hampton Inn by Hilton Jacksonville Downtown I-95 located in Jacksonville, Florida. The property was acquired by HDG in partnership with Fortune Investments, LLC. HREC Investment Advisors exclusively represented the seller, and an affiliate of Broadshore Capital Partners, on this transaction. The marketing and negotiations were led by Monty Levy, Managing Director (Atlanta), Paul Sexton, Senior Vice President & Broker on Record for Florida (Orlando), and Tammy Bateman, Vice President (Orlando).
Said Bateman, “The Jacksonville lodging market is a hidden gem within the State of Florida. As one of Florida’s more transient commercial-oriented markets, it is worth noting that over the past year, RevPAR is up nearly 20% across the market.
Added Sexton, “As is well known, the Florida market has been on fire over the past couple of years. Regardless of any macroeconomic headwinds coming our way, it is never a bad time to invest in the state’s hotel market. You blink twice and the market will already be back to peak operating performances.”
The hotel is ideally located in the heart of downtown Jacksonville, immediately proximate to some of the city’s biggest demand generators. The property is located directly next to the Baptist Medical Center and the Wolfson Children’s Hospital. The Property is just across the St. Johns River and less than two miles from all of downtown’s largest leisure demand generators: TIAA Bank Field, VyStar Veteran’s Memorial Arena, the MOSH Museum, and the Osborne Convention Center. The downtown area is currently seeing massive developments as well that the Property has easy access to that will reinvigorate tourism to downtown Jacksonville.
HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting including market studies, and litigation support. With 20 offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital, and hotel/casino specialization.