DENVER – Stonebridge Cos. (“Stonebridge”), a privately owned, nationally acknowledged, revolutionary lodge proprietor and supervisor headquartered in Denver, acquired a five-property, roughly 1,200 key lodge portfolio spanning the U.S. in late November.
Our closing of this transaction was particularly rewarding because of the measurement of the portfolio, the a number of shifting elements and velocity through which we have been capable of full the deal. We’re excited to proceed our strategic progress 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 increase in current markets but additionally develop in new markets with these cash-flowing motels inside the Hilton and Marriott households. We’re thrilled so as to add these properties, which supply 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 lately undergone significant renovations.
With this transaction, Stonebridge reenters the larger 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 stability of the portfolio includes properties in current Stonebridge markets, the place the corporate sought to increase its presence. The properties embrace: 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 growth alternatives.
About Stonebridge Cos.
Based in 1991 by Navin C. Dimond, Stonebridge Cos. is a privately owned, nationally acknowledged revolutionary lodge proprietor and supervisor headquartered in Denver, Colorado. Its various portfolio contains select-service, extended-stay and full-service motels in markets all through the U.S.
For extra info, go to http://www.sbcos.com.
