Driftwood Acquisitions & Development Sells SpringHill Suites Altamonte Springs

Driftwood Acquisitions & Development | January 16, 2019

Orlando, Fla. (Jan. 15, 2019) – Driftwood Acquisitions and Development (DAD) – a privately held firm specializing in the acquisition, repositioning and investment syndication of high-quality hotel assets – announced today that it sold the SpringHill Suites Altamonte Springs, a Marriott-branded, 90-key hotel located 10 miles north of Orlando. DAD acquired the asset in 2015 out of receivership, with little renovation needed, as a cash-flowing market play. While maintaining a 10 percent equity stake in the property, the firm syndicated the remaining 90% of its equity position to individual accredited investors after closi...