Impact Properties Sells Home2 Suites by Hilton in Florida

HFF announces the sale of Home2 Suites by Hilton Gainesville
home2 suites gainesville

November 1, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Home2 Suites by Hilton Gainesville, a 95-room, select-service, all-suite hotel near the University of Florida in Gainesville.

The HFF team represented seller, Impact Properties. Memphis-based McNeill Hotel Investors (“McNeill”) purchased the asset free and clear of existing debt in an off-market transaction.

Home2 Suites by Hilton Gainesville was completed in 2016 and features complimentary breakfast, 1,224 square feet of meeting space, fitness room, outdoor pool, two lobby workstation computers and a 24-hour pantry market. The hotel is at 2115 SW 13th Street near the 2,000-acre University of Florida, which is the ninth largest public university in the country. It is also less than one mile from The Health Sciences Center Gainesville, which encompasses six health colleges, six research institutes, two specialty hospitals and a teaching hospital. Additionally, Home2 Suites by Hilton Gainesville is three miles from the one-million-square-foot Butler Plaza, the largest retail power center in Florida.

The HFF investment advisory team included senior managing director Michael Weinberg and director Preston Reid.

“Impact Properties was not necessarily looking to sell this asset, but we were able to present an off-market offer to them from a highly credible buyer in McNeill,” Weinberg said. “It was a real pleasure to work with both the seller and the buyer throughout the process.”

“Newer-vintage Home2 Suites by Hiltons continue to attract significant investor interest across the country,” Reid added. “The proximity to University of Florida and the medical cluster, Gainesville’s top demand generators, made this investment a dual threat.”

“This recently built property is an excellent strategic fit for our growing hotel portfolio,” McNeill CEO Phillip McNeill Jr. said. “We have great operational experience with the Home2 Suites brand and extended-stay properties overall, as they now comprise more than half of our existing portfolio of hotels.”

“Gainesville has many favorable long-term demand drivers, including the close by Health Sciences Center Gainesville and the University of Florida,” McNeill President and COO Mark Ricketts added. “We look forward to becoming a part of the fabric of this community as People Serving People.”

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