US-based hotel brokerage and advisory firm DSH Hotel Advisors has facilitated the sale of the Candlewood Suites in Jacksonville, Florida, US.
This sale represents the third hotel transaction DSH Hotel Advisors has closed in the Jacksonville market this year.
The company represented both parties involved in the deal, with Mayport Lodging 2 acting as the seller, and Butler Lodging the purchaser.
DSH Hotel Advisors managing principal and founder Dennis Hopper and senior investment associate Sam Subodh Patel led the sale process.
The advisory company secured more than 130 signed confidentiality agreements from qualified buyers, resulting in multiple offers for the property.
The price of the transaction is not revealed.
Hopper said: “This transaction came together smoothly thanks to strong collaboration between all parties. It’s a great example of how DSH Hotel Advisors was able to generate multiple offers on behalf of the seller, select the best buyer for the asset, and deliver a hands-on approach from start to finish.”
The Candlewood Suites in Mayport, Jacksonville, is a 61-room, all-suite hotel established in 2019, catering to extended-stay and value-conscious guests with fully equipped kitchens and work areas in each suite.
The property is expected to have minimal anticipated property improvement plans (PIP) and offers stable operational performance and investment potential.
Patel said: “DSH Hotel Advisors is proud to have facilitated the successful sale of the Candlewood Suites Jacksonville-Mayport, further reinforcing the firm’s strong presence in the Jacksonville market.
“This transaction marks DSH Hotel Advisors’ third hotel closing in the Jacksonville market this year, reflecting continued momentum and expertise in delivering value for both buyers and sellers.”
Earlier in the year, DSH Hotel Advisors also managed the sale of the Quality Inn Lake City in Florida for an undisclosed amount.
“DSH Hotel Advisors marks third hotel sale in Jacksonville market, US” was originally created and published by Hotel Management Network, a GlobalData owned brand.
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