October 23, 2019
A partnership between Three Wall Capital and Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, has acquired an 18-property extended stay hotel portfolio in North Carolina, Virginia, Florida, Tennessee, Georgia and Texas. The sales price was not disclosed.
The portfolio includes hotels affiliated with brands in the Hilton, IHG, and Choice systems. Properties are currently flagged as Homewood Suites, Home2 Suites, Candlewood Suites, Staybridge Suites, Suburban Extended Stay, Mainstay Suites and Sleep Inn. New long-term franchise agreements were secured from all brands. The hotels are all located nearby dense retail corridors, office parks, hospitals, airports, residential communities, and major highway systems.
Following the acquisition, Three Wall’s portfolio consists of 54 hotels, 46 of which represent extended stay hotels.
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