NEW YORK, June 28, 2022 — In conjunction with Churchwick Partners, David Kaye and Joe Listhaus of Rockledge completed their Sonesta portfolio acquisition by adding another 347 keys across three hotels in three separate states. The assets included Sonesta ES Suites in St Louis, MO, Sonesta ES Suites Minneapolis in Eagan, MN and Simply Suites Detroit Southfield in Southfield, MI.
Last month, Churchwick and Rockledge closed on the first portion of the portfolio consisting of 7 Sonesta hotels, which accounted for 1,085 keys across 6 states. The Churchwick and Rockledge teams are excited to close this transaction and look forward to building their pipeline of extended stay hotels throughout the rest of 2022 and beyond.
The collaborative group is actively looking for extended stay hotels in dense markets across the United States. They have begun with a strong foothold in the Midwest and Southeast. The companies are open to exploring other markets that have extended stay hotels over 80 keys.
Jaime Gitler, a partner at Churchwick Partners had this to say about the completion of the acquisition:
“Being able to execute a complicated transaction and financing in one of the worst credit environments in the last 10 years is a continued testament to our differentiated approach. The wealth of experience in capital markets coupled with a best-in-class operational team continues to position Rockledge and Churchwick as preferred partners to sellers. History will show that execution in this time period will be a defining highlight in our storied enterprise.”
Churchwick Partners and Rockledge now own a total of 1,519 keys across the US. Please reach out to the contact below if you have a deal you think they would be interested in.