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3 extended-stay hotels sell for $21 million
['Talk Business', 'Politics Staff']
Talk Business & Politics
Two four-story, 121-room hotels and one three-story, 101-room hotel all along Interstate 49 in Washington County recently changed hands for a combined $21 million.
The sellers were affiliates of Charlotte, N.C.-based Extended Stay America.
An affiliate of Denver-based investment management firm ArrowMark Partners provided a two-year loan of up to $102 million.
The hotels on Dixie Industrial Avenue and Old Farmington Road were rebranded from WoodSpring Suites.
An Extended Stay America affiliate bought the Luvene Avenue land for $550,000 in March 2001.