Gainesville, Florida – August 11, 2014 – (RealEstateRama) — CBRE Hotels is pleased to announce the sale of the 83-room Comfort Inn University located at 3440 SW 40th Blvd. in Gainesville, Florida. A Southern California investment group sold the property to a local buyer, Gator Hospitality, LLC, who plans to renovate and reposition the hotel as well as improve the hotel’s efficiency through new management.
The Comfort Inn is well-located adjacent to Interstate 75 just off of the SW Archer Road Exit and is only three miles southwest of the University of Florida and 10 miles from Gainesville Regional Airport. Opening in July of 2001, the four-story mid-rise hotel features 83-guestrooms all with a refrigerator and microwave, outdoor swimming pool, fitness room, guest laundry facilities, complimentary hot breakfast and 600 square feet of meeting space.
Robert Taylor, Senior Vice President of CBRE Hotels in Miami, represented the seller in this transaction.
Mr. Taylor commented, “The property’s desirable college market location coupled with our targeted marketing strategy generated a high level of investor interest. Ultimately, the Comfort Inn represented a great opportunity for the buyer, an experienced hotel owner with other assets in the area, to expand his presence in this dynamic college town.”
CBRE Hotels is a specialized advisory group within CBRE Group, Inc. providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe. For more information, please visit our website at www.cbrehotels.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
Contact:
Elizabeth Cross
Marketing Director, FL
305.428.6373
elizabeth.cross (at) cbre (dot) com
Melinda Sherwood
Communications and Media Manager
305.381.6453
melinda.sherwood (at) cbre (dot) com
