September 1, 2016
Tampa, Fla. (September 1, 2016) – The Plasencia Group is pleased to announce the sale of the Hampton Inn & Suites Gainesville Downtown Hotel, located in Gainesville, Florida. The firm represented Ashford Hospitality Trust, Inc. (NYSE: AHT) in the sale of the 124-room hotel to Key International, a Miami-based real estate investment and development company.
“Since opening in 2009, the Hampton Inn has remained in excellent condition,” commented Joe Corcoran, Vice President of The Plasencia Group. “Our client was able to advance its investment strategy by selling a non-core asset, and we anticipate that the new owners will benefit from the hotel’s continued performance in a thriving university market.”
Vice Presidents of The Plasencia Group, Chris Plasencia and Nick Plasencia, also advised on this transaction. Chris Plasencia added, “The proximity of the Hampton Inn to the University of Florida and its walkability within Gainesville’s bustling downtown district position the property at the heart of a vibrant and recession-resilient community.”
The Hampton Inn & Suites Gainesville Downtown is situated near the University of Florida, one of the nation’s leading research universities, with an enrollment in excess of 50,000 students. The Plasencia Group has completed engagements for more than 75 resort and hotel owners in Florida, and nearly 100 Hilton-branded hotels nationally.