Tampa, Fla. (February 15, 2016) – The Plasencia Group is pleased to announce the sale of the Hilton University of Florida Conference Center Hotel, located in Gainesville, Florida. The firm represented the seller in the sale of the 248-room hotel to Arden Group, a real estate investment firm based in Philadelphia, Pennsylvania.
Dennis Reed, Senior Vice President of The Plasencia Group’s Southeast region commented, “This was an ideal exchange for both our client and the purchaser. The seller was able to execute on a key strategic initiative, and the buyer was able to acquire a prominent piece of real estate in a strong, university-anchored market.”
“The Hilton is of key importance in Gainesville, as the only nationally-branded full-service hotel in the market,” added Chris Plasencia, Vice President of the Plasencia Group and member of the disposition team. “Arden Group’s planned renovation of the hotel will allow the property to address the University community’s needs and attract a larger share of transient and group business.” Vice President Nick Plasencia also assisted in the disposition.
The Hilton is located directly on the campus of the University of Florida and just minutes from Interstate 75. The hotel’s unrivaled meeting facilities and status as one of only four International Association of Conference Centres-certified conference facilities in Florida make the Hilton the premier choice for group business affiliated with the University. The Plasencia Group has now advised on the sale of 75 hotels and resorts in Florida and 97 Hilton properties across the country.