Hooman Hamzehloui, founder of Masters Realty, an Orlando boutique real estate firm, announces his two latest deals have closed, leading the way for the development and construction of two new hotels located in the heart of Central Florida's hospitality and tourism district. Developer and builder, Skorman Development Corp., purchased 10 acres through Masters Realty for $5.5 million and resold 4.46 acres of the land to Miami-based Epelboim Development Group for the same price for the construction of Hilton's Tru Hotel. Another major hotel brand, which will be revealed within the next year, plans to break ground in an adjacent 20-acre lot, which Masters Realty sold in November 2016 for $11.5 million to West Palm Beach-based DCS Capital Investments.
Hilton's third-ever Tru Hotel will stand at 6461 Westwood Blvd., Orlando, Florida 32821. Once completed, this new Hilton brand will offer 259 high-end rooms to accommodate guests. The additional soon-to-be announced hotel is planning construction on the neighboring lot for a 40-story, 1,200 room resort, near the Orange County Convention Center.
"This two-parcel piece of land is a perfect spot for two new luxury hotels with its proximity to the Convention Center and tourist district," said Hooman Hamzehloui, founder of Masters Realty. "I'm proud to be a part of this project, and I believe it will serve great value to both Orlando's local residents and business and leisure visitors."
Having assisted Skorman Development Corp. in the initial purchase of 10 acres of land for $5.5 million, Masters Realty then helped divide and resell approximately half of the 10 acres for the same price, maximizing profit margins. This separated portion of the 10-acre parcel now belongs to Miami-based Epelboim Development Group, the developer of the Hilton Tru Hotel.
"Hooman has an incredible eye for identifying the best development deals before anyone else, and his ability to negotiate the best deals puts him in a league of his own," said Kevin Skorman, VP of Skorman Development Corp. "Having one of the first Hilton Tru Hotel brands adds another unique element to our city and we're honored to be a part of it."
Hooman Hamzehloui played a major role in negotiating contract terms and agreements for each buyer, ultimately confirming the purchase price of the 20-acre site for the unannounced hotel for $11.5 million. The deal closed within 90 days of initial contract.
"Hooman helped us strike a great deal on a great site, and we are extremely pleased with this acquisition," said Randall Greene, partner of real estate of DCS. "The Orange County Convention Center is in major need of more high-end hotel rooms. We look forward to accommodating that need on this strategically located site in the world's number one tourist destination."