A Houston-based hotel group has sold a pair of side-by-side, limited-service hotels in Apopka to different buyers for a combined $20.25 million.
Capital One Hotel Group sold the Holiday Inn Express at 238 S. Line Dr. for $10.75 million to Isha of Milford LLC. State records show the entity is tied to Hetal Shah, with addresses in Jacksonville and Milford, Conn. GBank provided two loans totaling $8.775 million to the buyer in transactions that closed Feb. 17.
COHG also sold the Hampton Inn at 321 S. Lake Cortez Dr. for $9.5 million to Popka LLC, an entity tied to Brian Donahue, with an address in Avon Park. Surety Bank provided $6.175 million in financing to the buyer for the transaction that closed Feb. 12.
COHG paid a combined $17.1 million for the properties in 2017 in what was the company’s first foray into the Greater Orlando Market — $8.57 million for the 81-key Hampton Inn and $7.11 million for the neighboring 77-key Holiday Inn. Both were built in 2010 and are located along SR 436 West (East Semoran Boulevard).
The Hampton Inn & Suites located at 321 S. Lake Cortez Drive in Apopka was recently sold for $9.5 million. (Orange County Property Appraiser)
Alex Fawaz, CEO of Capital One Hotel Group, could not be reached for comment. The sales were brokered by HVS, a leading consulting and services organization focused exclusively on the hospitality industry.
The Holiday Inn building is five stories tall with a gross area of 52,356 square feet on 1.61 acres. Its website states amenities include an outdoor pool, fitness center, onsite parking, business services and complimentary breakfast. Guest rooms offer features including free high-speed internet access, LCD HDTVs with expanded cable and HBO. All rooms have a microwave, mini fridge, coffee maker, hair dryer, bath amenities and an in room safe.
The Holiday Inn Express & Suites located at 321 S. Lake Cortez Drive in Apopka was recently sold for $10.75 million. (Orange County Property Appraiser)
The Hampton Inn building also is five stories tall with a gross area of 54,443 square feet on 1.63 acres. Its website list amenities including free onsite parking, EV charging, fitness center, meeting rooms, outdoor pool, complimentary hot buffet breakfast and pet-friendly rooms. Guest rooms offer features including digital keys, free Wi-Fi, nonsmoking rooms, streaming entertainment and cribs.
The hotels are about 12 miles from downtown Orlando. Sanford International Airport is 21 miles away and its 25 miles to Orlando International Airport.
Brian Bell can be reached at bbell@orlandosentinel.com. Have a tip about Central Florida development? Email Newsroom@GrowthSpotter.com. Follow GrowthSpotter on Facebook and LinkedIn.