KKFL LLC Acquires Fairfield Inn & Suites In Fort Walton Beach For $11.2 Million

The property involved in this transaction is the Fairfield Inn & Suites, located at 522 Mary Esther Cut Off NW in Fort Walton Beach, Florida. This hotel asset was sold for $11,200,000 and consists of 74 keys, with a price per key of $151,351. The hotel is situated in a market known for strong investor demand, particularly favorable due to its recent conversion from a Holiday Inn Express to a Marriott brand, and its proximity to military bases, which positively impacts its performance given the high per diem rates.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $11,200,000
• Address: 522 Mary Esther Cut Off NW - Fairfield Inn & Suites Fort Walton Beach Hurlburt Area
• Market: Fort Walton Beach
• Buyer: KKFL LLC
• Seller: OHS Hotels
• Buyer's Representative: Curt Allen - Colliers
• Seller's Representative: David Altman - Marcus & Millichap
• Keys: 74
• Price Per Key (PPK): $151,351

Marcus & Millichap facilitated the transaction, showcasing their expertise in the hospitality sector. The involvement of Curt Allen representing the buyer and David Altman representing the seller highlights the professional brokerage support navigating this sale, reflecting the dynamics of the commercial real estate market within Florida.