DENVER – Stonebridge Cos. (“Stonebridge”), a privately owned, nationally acknowledged, modern resort proprietor and supervisor headquartered in Denver, acquired a five-property, roughly 1,200 key resort portfolio spanning the U.S. in late November.
Our closing of this transaction was particularly rewarding because of the dimension of the portfolio, the a number of transferring components and velocity wherein we have been capable of full the deal. We’re excited to proceed our strategic development with the acquisition of those top-tier properties throughout the U.S. Navin Dimond, CEO and founding father of Stonebridge
It’s thrilling to not solely develop in present markets but additionally develop in new markets with these cash-flowing motels throughout the Hilton and Marriott households. We’re thrilled so as to add these properties, which provide each renovation and operational upside, to our portfolio,
added Steve Kakaty, chief funding officer of Stonebridge.
Stonebridge plans to make varied capital enhancements at every of the properties, three of which have just lately undergone significant renovations.
With this transaction, Stonebridge reenters the higher Phoenix market with the acquisition of the Embassy Suites in Flagstaff, Arizona and enters each the North Carolina and Georgia markets with the acquisition of the Marriott Analysis Triangle Park in Durham, North Carolina, and the W Downtown in Atlanta.
The steadiness of the portfolio contains properties in present Stonebridge markets, the place the corporate sought to develop its presence. The properties embody: the Embassy Suites in Walnut Creek, California, and a full-service Marriott in Bridgewater, New Jersey.
With a present portfolio of 14,000-plus rooms nationwide, Stonebridge is actively pursuing further enlargement alternatives.
About Stonebridge Cos.
Based in 1991 by Navin C. Dimond, Stonebridge Cos. is a privately owned, nationally acknowledged modern resort proprietor and supervisor headquartered in Denver, Colorado. Its numerous portfolio consists of select-service, extended-stay and full-service motels in markets all through the U.S.
For extra info, go to http://www.sbcos.com.