sandpiper lodging trust
Sandpiper Lodging Trust Acquires Five Extended Stay Hotels
Sandpiper | January 17, 2023
(Richmond, Va. – January 17, 2022) – Sandpiper Lodging Trust (SLT) announced today that it completed the acquisition of five operating hotels from affiliates Sandpiper Hospitality III, LLC and Sandpiper Hospitality IV, LLC that operate under the WoodSpring Suites brand. These five properties are located in White Marsh, MD, Greenbelt, MD, Virginia Beach, VA and two in Baton Rouge, LA. After this transaction, SLT owns 28 extended stay hotel assets across 9 states. The transaction was financed with a combination of borrowing under the Company’s recently expanded $200 million revolving credit facility, the assumption of existing debt on...
Sandpiper Lodging Trust Acquires Two Residence Inn Extended Stay Hotel Properties in Central Florida
Sandpiper | June 14, 2022
(Richmond, Va. – June 14, 2022) – Sandpiper Lodging Trust (“SLT”) is pleased to announce the acquisition of two Residence Inn by Marriott ™ extended stay hotels located in the Central Florida market. One of the hotels, Sandpiper Gainesville, is located 2 miles southwest of the University of Florida in Gainesville, FL. The other hotel, Sandpiper Lakeland, is located 30 miles east of Tampa, near the Lakeland Linder International Airport. Terms of the deal were not disclosed. Carter Rise, CEO of SLT, stated, “We are very excited about what these two Central Florida markets have to offer and believe that these two assets will se...
Sandpiper Lodging Trust Acquires WoodSpring Suites Extended Stay Hotel Portfolio in Orlando, Florida
Sandpiper | March 7, 2022
Richmond, VA – March 7, 2022 – Sandpiper Lodging Trust (“SLT”) is pleased to announce the acquisition of two WoodSpring Suites extended stay hotels located in the Orlando, Florida market. One of the hotels, WSS Clarcona, is located 6 miles northwest of downtown Orlando. The other hotel, WSS Clermont, is located 18 miles west of Orlando, near Lake Apopka. The hotels were initially developed by Liberty Investment Properties and have been owned most recently by Hotel Management Services, Inc. Sandpiper Hospitality will immediately begin managing the two-hotel portfolio. Terms of the deal were not disclosed. Carter Rise, CEO of SLT...
Sandpiper Lodging Trust Acquires New WoodSpring Suites Extended Stay Hotel in Tampa, Florida
Sandpiper | February 8, 2022
Richmond, VA – February 8, 2022 – Sandpiper Lodging Trust (“SLT”) is pleased to announce the acquisition of a brand-new WoodSpring Suites extended stay hotel located in Tampa, Florida. The hotel was developed by Liberty Investment Properties, headquartered in Orlando, Florida, and was acquired by SLT upon completion. Sandpiper Hospitality will manage the 122-room hotel. Terms of the deal were not disclosed. Carter Rise, CEO of SLT, stated, “We have always been very attracted to the west coast of Florida’s hospitality market and we are extremely excited about the location of this asset in Tampa. Given the continued expan...
Sandpiper Lodging Trust Acquires Two Savannah Suites Extended Stay Hotels in Colorado and Texas
Sandpiper | July 23, 2021
Richmond, Va. – July 23, 2021 – Sandpiper Lodging Trust is pleased to announce the acquisition of two Savannah Suites Extended Stay hotels. One hotel is located just outside of Denver in Arvada, CO, while the other hotel is in Pleasanton, TX, located near San Antonio. SLT will convert the 116-room Arvada, CO hotel into a Suburban Extended Stay hotel, part of the Choice Hotel Group, and the 64-room Pleasanton, TX hotel into an independent extended-stay hotel. Terms of the transaction and brand conversion were not disclosed. Carter Rise, CEO of SLT, stated, “We are extremely excited to add these two hotels to the Sandpiper Lodging Trust ...
Sandpiper Lodging Trust Acquires Two Candlewood Suites Hotels in South Carolina
Sandpiper | August 24, 2020
(Richmond, Va. - August 24, 2020) – Sandpiper Lodging Trust (“SLT”) is pleased to announce its acquisition of two Candlewood Suites Hotels located in North Charleston and Bluffton, South Carolina from DC Hospitality. Both properties are mid-scale extended stay hotels located in two dynamic hospitality markets. Terms of the transaction were not disclosed. Carter Rise, CEO of SLT, stated, “We are extremely excited to add these two hotels to the Sandpiper Lodging Trust portfolio. We have targeted the Charleston and coastal South Carolina market as an area with exciting long-term demographic advantages, and we are pleased to be a...
Sandpiper Lodging Trust Acquires Four WoodSpring Suites Hotels From Wills Capital Partners
Sandpiper Lodging Trust | February 14, 2019
(Richmond, Va. - February 14, 2019) – Sandpiper Lodging Trust (SLT) is pleased to announce its acquisition of four WoodSpring Suites™ Hotels from Wills Capital Partners, LP (WCP). Three of the properties are located in Texas including: Austin, San Antonio and Odessa and one in Clarksville, Tenn. Carter Rise, CEO of SLT, stated, "We have known and admired Charles Wills and his development team for nearly 10 years. His properties consistently rank among the highest performing hotels in the WoodSpring system. This acquisition expands our geographic footprint into four rapidly growing markets. We are particularly pleased that Mr...
