Peachtree Hotel Group Invests $495 Million in Acquisitions and Developments in 2018
Peachtree Hotel Group, a sponsor of private placement offerings, has acquired 14 hotel properties and conducted 10 ground-up development projects totaling $495 million during 2018.
Peachtree Hotel Group, a sponsor of private placement offerings, has acquired 14 hotel properties and conducted 10 ground-up development projects totaling $495 million during 2018.
“Currently, we have a strong pipeline of investments that we plan to execute in 2019, ranging from an urban, dual branded development project in Atlanta to multiple ground-up hotel projects located in opportunity zones throughout the country,” said Brian Waldman, senior vice president of investments of Peachtree Hotel Group.
The new acquisitions total approximately $285 million and bring the company’s portfolio to 46 hotels totaling 5,511 rooms nationwide.
PHG made the following acquisitions during 2018: a 161-room SpringHill Suites Navarre Beach, Florida; 198-room Crowne Plaza in Wauwatosa, Wisconsin; 138-room Hampton Inn & Suites in Jekyll Island, Georgia; 129-room Four Points by Sheraton in Knoxville, Tennessee; 117-room Fairfield Inn & Suites in Charlottesville, Virginia; 112-room TownePlace Suites in Southaven, Mississippi; 92-room Homewood Suites in Buckhead, Georgia; 147-room Hilton Garden Inn in Kansas City, Missouri; 109-room TownePlace Suites in Chandler, Arizona; 120-room Hampton Inn in Columbia, Missouri; 94-room Homewood Suites in Daytona Beach, Florida; 90-room Staybridge Suites in Madison, Wisconsin; 91-room Staybridge Suites in Middleton, Wisconsin; and the 86-room Homewood Suites in Covington, Louisiana.
Peachtree also executed on 10 development deals last year, including the 165-room Element in Orlando, Florida; 140-room Hotel Indigo in Gainesville, Florida; 136-room Fairfield Inn & Suites in St. Louis, Missouri; 105-room Homewood Suites in Destin, Florida; 130-room Home2 Suites in Lawrenceville, Georgia; 119-room Courtyard in Plainfield, Indiana; 100-room Courtyard in Kennesaw, Georgia; 98-room Hilton Garden Inn in Jackson, Tennessee; 90-room Home2 Suites in St. Augustine, Florida; and a 106-room Home2 Suites in San Antonio, Texas.
“We continue to explore new opportunities to accommodate our aggressive growth plans, from co-developments with partners to opportunity zone funding,” said Brent LeBlanc, senior vice president of Peachtree Hotel Group.
Peachtree Hotel Group operates, develops and invests in premium-branded, select- and limited-service and extended-stay hotel assets under the Marriott, Hilton, Hyatt, Choice and InterContinental Hotels Group flags. Since its inception, the firm said that it has invested in more than $2.4 billion of hotel properties and first mortgage notes. Peachtree’s current portfolio is comprised of 104 hotel assets totaling 12,767 rooms, including 46 real estate assets and 58 notes.
