Pureland Hospitality Acquires Home2 Suites By Hilton Lake Mary For $17.97 Million From Rockpoint And Highgate

The transaction involved the sale of the Home2 Suites by Hilton Lake Mary Orlando, a 123-room hotel situated on 2.78 acres at 582 New Technology Boulevard, Lake Mary. The sale price was $17,970,000, translating to $146,098 per key. The hotel was constructed recently and caters to extended-stay guests, located approximately 17 miles north of Orlando.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $17,970,000
• Address: 582 New Technology Boulevard
• Market: Lake Mary
• Acres: 2.78
• Keys: 123
• PPK: $146,098
• Buyer: Pureland Hospitality
• Seller: Tom Gilbane - Rockpoint; Arash Azarbarzin - Highgate

An affiliate of Pureland Hospitality completed the acquisition of the hotel from a venture involving Rockpoint and Highgate. The deal reflects the activities of these managing companies in the hospitality sector within the specified region.