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Lingerfelt Commonwealth sells 5 hotels for $93M

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Lingerfelt Commonwealth sells 5 hotels for $93M

Commercial real estate investment firm Lingerfelt CommonWealth Partners LLC sold a 758-room, five-hotel portfolio spread across Atlanta; Orlando, Fla.; and Charlotte, N.C.; for $92.5 million to privately held hospitality company AD1 Global.

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DoubleTree by Hilton Atlanta North Druid Hills – Emory Area
Source: Lingerfelt Commonwealth Partners LLC

The portfolio consists of premium hotels within the Marriott International Inc. and Hilton Worldwide Holdings Inc. select-service and full-service brands, Lingerfelt said in a release, noting that it paid $68.5 million to purchase the hotels in January 2015.

The portfolio includes the 170-room Fairfield Inn & Suites by Marriott Orlando Lake Buena Vista and the 139-room Fairfield Inn by Marriott Orlando Airport in Florida. The Atlanta properties include the 208-room DoubleTree by Hilton Atlanta North Druid Hills – Emory Area and the 111-room Hampton Inn Atlanta – North Druid Hills. In North Carolina, AD1 acquired the 130-room Courtyard by Marriott Charlotte Gastonia.