Four Florida-hotel portfolio sold by Excel for $58.5m

Four Florida-hotel portfolio sold by Excel for $58.5m

Published at: 2017-11-30 15:24 | Author: CIJ USA
The Excel Group, based in Washington DC., has closed on the $58.5 million disposition of a four-hotel 469-key Florida portfolio. The portfolio includes the 148-room Hilton Garden Inn Tampa North, 83-room Hilton Garden Inn Oldsmar, the 110-room Hampton Inn Oldsmar and the 128-room Hyatt Place Lake Mary. This sale represents the second major transaction for Excel Group this year. In May 2017, it acquired the 200-key Hyatt Place Washington DC/US Capitol. "This sale signifies a milestone for the Excel Group as it represents another major portfolio that we have taken full cycle – from acquisition through disposition," said managing partner Shoham Amin. "This transaction typifies our ability to take core-plus assets and significantly improve operational performance to achieve opportunistic returns."

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