Banyan Investment Group Acquires Castle Hotel In Orlando, FL For $XM

The Castle Hotel, Autograph Collection by Marriott, a 213-key boutique hotel located in Orlando, Fla., was sold on October 19, 2022. The property, built in 1995 and renovated in 2022, spans 3.4 acres at 8602 Universal Boulevard. The hotel consists of one nine-story building and two detached single-story buildings, offering amenities like a 24-hour fitness center, heated pool and hot tub, full-service restaurant, and a 9,577-square-foot flexible meeting space.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: Not specified
• Market: Orlando
• Seller's Rep: Preston Reid(Berkadia), Wyatt Krapf(Berkadia)
• Buyer: Banyan Investment Group
• Seller: Contrarian Capital Management LLC

Berkadia Hotels & Hospitality represented the seller, Waramaug Hospitality, and Contrarian Capital Management in the transaction. Michael Weinberg and Preston Reid, along with Wyatt Krapf, were instrumental in facilitating the sale and financing. The buyer, Banyan Investment Group, based in Atlanta, Ga., secured acquisition financing for the purchase. MetLife provided a three-year loan for the deal, with two one-year extension options.