DALLAS (July 17, 2017) – Phoenix American Hospitality, a Dallas-based hotel fund manager, announces the $109M purchase of seven upscale select-service hotels in Arkansas, Louisiana and Florida.
This acquisition of one Hilton and six Marriott properties adds 778 rooms to the Phoenix American Hospitality portfolio. So far in 2017 Phoenix American Hospitality has purchased 13 properties totaling 1532 rooms in nine states. These acquisitions were purchased through a joint venture arrangement with Aspect Investment Partners Ltd.
The newly acquired properties include:
- TownePlace Suites by Marriott Fayetteville North/Springdale
- ALOFT Rogers-Bentonville
- Fairfield Inn & Suites by Marriott Jonesboro
- Courtyard by Marriott Baton Rouge
- Residence Inn by Marriott Baton Rouge
- TownePlace Suites by Marriott New Orleans Metairie
- Hampton Inn & Suites Fort Myers
“Each of these properties is a meaningful addition to our growing portfolio,” said Perch Nelson, President of Phoenix American Hospitality. “We anticipate a strong partnership and long-term success with each property”.
"We are constantly looking for value add opportunities across multiple sectors within the US Real Estate space, and this transaction falls right within our criteria” said Ahmed Farid, President of Aspect Investment Partners.
For more information, please visit www.phoenixamericanhospitality.com, call (214) 750-2967.
