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SVN Florida and SVN Stone Commercial Collaborate on Two-Hotel $9MM Transaction in Punta Gorda, FL

SVN Stone Commercial advisor Earl Brady, in close collaboration with fellow SVN Florida advisor Natvar Nana, spearheaded the sale of two hotels in Punta Gorda. The Hampton Inn at 24480 Sandhill Blvd. and the nearby Holiday Inn Express at 24440 Sandhill Blvd. recently sold for $5 million and $4 million, respectively.
The sale is unique as the hotels were owned by Lexington, Kentucky based Charlotte Host, LLC., and the assignment called for a single contract. Nana successfully worked with the two buyers, however, and was able to seamlessly complete the deal.
“I can’t recall a transaction involving two buyers going as smoothly as this one,” said Nana, who represented the buyers. “This was a true representation of the SVN philosophy of applying teamwork to best serve the clients.” Earl Brady represented the sellers.
Sandhill Holdings, LLC, of Lehi, Utah is the buyer of the 71-room Hampton Inn and Luxmi Patel of Port Charlotte, LLC, is the buyer for the 68-room Holiday Inn Express. The Hampton Inn was built in 1997 and The Holiday In Express in 2003. Both hotels were renovated in 2014.
SVN is built on a philosophy of teamwork. It’s a client-first approach that features compensated cooperation among advisors and co-brokers to produce maximum results for buyers and sellers of commercial real estate assets.
“This is a perfect example of how well SVN’s compensated cooperation between advisors works,” Nana said. “It’s a win-win for everyone involved.”

 

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Posted on

May 12, 2016