Crescent Real Estate LLC Acquires Element Orlando Hotel On Universal Boulevard For $39M

The Element Orlando extended-stay hotel, located at 8278 Universal Boulevard, has been sold for $39 million. The eight-story hotel, completed in 2020, features 165 rooms and is situated near Icon Park on International Drive. The hotel caters to business travelers and large groups, offering a comfortable and convenient stay. This transaction was made in Orlando, a thriving market known for its tourism and hospitality industry.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $39,000,000
• Address: 8278 Universal Boulevard
• Market: Orlando
• Buyer: Crescent Real Estate LLC - John Goff
• Seller: Peachtree Hotel Group - Greg Friedman
• Keys: 165
• Price per Key: $236,364

Crescent Real Estate LLC, led by John Goff, acquired the Element Orlando hotel. The seller in this transaction was Peachtree Hotel Group, with Greg Friedman representing the company. Both buyer and seller are prominent players in the real estate industry, known for their expertise in hotel investment and management. With this acquisition, Crescent Real Estate LLC expands its portfolio in the Orlando market, capitalizing on the city's strong tourism and hospitality sector.