Washington DC-based real estate investment firm Excel Group has announced its recent sale of a four-hotel 469-key portfolio for $58.5 million. The portfolio includes the 148-room Hilton Garden Inn Tampa North, 83-room Hilton Garden Inn Oldsmar, the 110-room Hampton Inn Oldsmar and the 128-room Hyatt Place Lake Mary.
"This sale signifies a milestone for the Excel Group as it represents another major portfolio that we have taken full cycle – from acquisition through disposition," remarked managing partner Shoham Amin. "This transaction typifies our ability to take core-plus assets and significantly improve operational performance to achieve opportunistic returns."
This sale represents the second major transaction for Excel Group this year. In May 2017, Excel Group acquired the 200-key Hyatt Place Washington DC/US Capitol.