Officials of Peachtree Hotel Group (PHG) today acquired the 96-suite TownePlace Suites Gainesville Northwest in Fla., from Gainesville Investment Lodging, LLP, a subsidiary of 3H Group, Inc., for an undisclosed sum. The transaction was brokered by Hospitality Real Estate Counselors (HREC).
Located at 7451 West Newberry Road just four miles from The Swamp and Ben Hill Griffin Stadium, the four-story, extended-stay hotel provides spacious suites with fully equipped kitchens and high-speed Internet access. Hotel amenities include a 24-hour workout facility, outdoor pool, 570 square feet of meeting space, complimentary breakfast and pet-friendly policies.
Peachtree Hotel Group operates, develops and invests in premium-branded, select- and limited-service and extended-stay hotel assets under the Marriott, Hilton, Hyatt, Choice and InterContinental Hotels Group flags. Since its inception, Peachtree has invested in more than $1.3 billion of hotel properties and first mortgage notes. Peachtree's current portfolio is comprised of 62 hotel assets totaling 7,256 rooms, including 24 real estate assets and 38 notes.
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