Woodvale purchased the Courtyard and Residence Inn Memphis Southaven dual-brand hotels from Chartwell Hospitality. Hunter’s COO Lee Hunter and SVP Tim Osborne facilitated the transaction.
Located in DeSoto County, MS, the hotels are near popular destinations including Downtown Memphis, the Beale Street Entertainment District and BankPlus Amphitheater.
The region’s industrial sector, featuring distribution centers for companies such as McKesson, Amazon and Williams-Sonoma, bolsters the hotels’ corporate market. The hotels benefit from their proximity to healthcare and education hubs, including Baptist Memorial Hospital, St. Jude Children’s Research Hospital and the University of Memphis.
“Our acquisition of the Southaven Marriott Portfolio underscores our commitment to adding high-quality, strategically located assets to our portfolio,” said Bashir Mansour, VP, investments, Woodvale. “We expect that these acquisitions will deliver strong returns for our investors while benefiting Southaven’s growing community.”
With a combined total of 163 keys, the hotels cater to both leisure and business travelers, offering room accommodations designed for full productivity and comfort. Guests have access to 24/7 fitness centers and pools, as well as various on-site dining options, including complimentary breakfast and made-to-order meals. Chartwell Hospitality will continue to manage the hotels upon the change of ownership.
“We are excited to partner with Woodvale and cultivate a long-term relationship with their team,” said Kevin Green, COO, Chartwell Hospitality. “Southaven has been a key market for us over the past 17 years, and we look forward to continuing our success there for many years to come.”
Woodvale also acquired the Fairfield Inn & Suites Atlanta Buford Mall of Georgia from Hotel Equities. Lee Hunter and David Perrin, SVP, Hunter, facilitated the transaction.
The hotel is located just off Interstate 85, north of Atlanta, offering access to Mall of Georgia, Lake Lanier and The Exchange @ Gwinnett, a new mixed-use development with a blend of retail, dining, entertainment and residential offerings.
The 96-room hotel features a 24/7 fitness center, meeting spaces and an indoor pool. The new owner plans to renovation all guestrooms and public spaces.
“The Fairfield Inn & Suites Atlanta Buford Mall of Georgia has been a top performer in the Hotel Equities portfolio for the past nine years,” said Fred Cerrone, former co-owner of the hotel and founder of Hotel Equities. “While we’re sad to see it leave, we’re equally proud to see its continued potential recognized by Woodvale. We sincerely appreciate the exceptional work by Hunter Hotel Advisors in brokering this successful transaction and ensuring a seamless process for all involved.”
Tags: Bashir Mansour, Chartwell Hospitality, Courtyard Memphis Southaven, Fairfield Inn and Suites Atlanta Buford Mall of Georgia, Fred Cerrone, Hotel Equities, Hunter Hotel Advisors, Kevin Green, Residence Inn Memphis Southaven, Woodvale
