JACKSONVILLE, Fla., March 13, 2019 — HTL Hospitality Advisors, www.htlha.com, is pleased to announce the sale of the SpringHill Suites by Marriott Jacksonville Airport located at 13550 Airport Court, Jacksonville, Florida. This sale was part of HTLHA’s growing off-market practice and the fifth off market Marriott franchised hotel HTL has recently sold.
The SpringHill Suites Jacksonville Airport was not listed for sale nor was it exposed to the open market. “This buyer was running out of time to complete a 1031 exchange. He was under mounting pressure to find a suitable property and purchase. We identified his specific acquisition criteria and were able to quickly find an asset that met both his needs and the requirements of his 1031 exchange,” said Bryan L. Gipson, Director for HTL Hospitality Advisors, who represented both parties in this transaction.
The new owners plan to extensively renovate the 104 room hotel, built in 2007, to meet the new SpringHill Suites brand standards.
HTL Hospitality Advisors is a national hotel real estate firm that specializes in full and select-service hotels including portfolios and inidual assets. For more information on how HTL Hospitality Advisors can assist you in purchasing or selling your hotel please visit https://www.htlha.com/.
Contact: Bryan L. Gipson, Director of Hotel Brokerage
HTL Hospitality Advisors
(228) 327-1729 or Bgipson@htlha.com
SOURCE HTL Hospitality Advisors