Updated Sep 9, 2026
James A. Procaccianti And Rugger Capital Acquire Charleston Harbor Resort In Mount Pleasant For $182.5M
20 Patriots Point Road
$182,500,000
Building Size
—
Asset Type
Hotel
Closing
Sep 9, 2026
About this deal
AI
The transaction involved the sale of the Charleston Harbor Resort, a hotel asset with 217 keys located at 20 Patriots Point Road in Mount Pleasant, SC. The sale was completed with a total transaction amount of $182,500,000, encompassing both the hotel and the adjacent marina.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $182,500,000
- Address: 20 Patriots Point Road
- Market: Mount Pleasant, SC
- Keys: 217
- Buyer: James A. Procaccianti - Procaccianti Cos; Rugger Capital; Bryan Redmond - Suntex Marinas
- Seller: S. Craig Lindner - American Financial Group
TPG Hotels & Resorts will operate the hotel following the sale, with a potential value-add program under consideration. Additionally, Suntex Marina Investors will manage the marina, which features over 450 slips.
On the Map
$182,500,000
Hotel
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Players
Mount Pleasant Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93