Hotel Equities and Virtua Partners Close on Fairfield Inn & Suites by Marriott in Colorado Springs
April 2, 2019 12:48pm
ATLANTA, GA – April 01, 2019 - Hotel Equities (HE), through its affiliate Virtua Partners, has purchased the Fairfield Inn & Suites Colorado Springs North/Air Force Academy. The hotel, located at 15275 Struthers Road in Colorado Springs, is the closest hotel to the U.S. Air Force Academy north entrance. Virtua Credit Corporation arranged the financing for the purchase.
Hotel Equities operates the Marriott hotel and will continue to oversee the asset. The hotel owner, operator and development firm currently manages 30+ Fairfield Inn & Suites and over 120 hotels throughout the U.S. and Canada. HE and Virtua Partners joined forces last year to expand upon their current hospitality portfolio through new development and acquisition opportunities.
“Since assuming management of the asset, Hotel Equities has added significant value through implementation of their proprietary labor models and cost initiatives,” said Quinn Palomino, Principal of Virtua Partners. “Our investment into the property and HE’s management expertise will facilitate optimal performance results and maximum returns for investors.”
“With spectacular views of Pike’s Peak and its close proximity to the U.S. Air Force Academy, the hotel is in an excellent location,” said Brad Rahinsky, President and CEO of Hotel Equities. “We are eager to elevate the property through planned improvements further securing the hotel’s position among the best in the Colorado Springs market.”
Tags: hotel equities,
fairfield inn & suites colorado springs,
Virtua Partners is a global private-equity firm specializing in commercial real estate. The firm and its affiliates sponsor a variety of investment funds and commercial real estate projects across the United States and currently have 16 million square feet of assets under management or development. Virtua Partners was the first firm to introduce an Opportunity Zone Fund in June 2018 and the first to complete a rezoning of an Opportunity Zone project. Virtua Partners’ goal is to provide superior risk-adjusted returns for high-net-worth individuals and family offices through comprehensive strategies, rigorous underwriting and careful execution. Virtua Partners strives to lead the conversation on how Opportunity Zone participants can evaluate, communicate and maximize the social impact of the investments they make in local communities.
Hotel Equities (HE) is an Atlanta-based full-scale hotel ownership, management and development firm operating 120+ hotels throughout the U.S. and Canada. Frederick W. Cerrone, CHA, serves as Founder and Chairman; Brad Rahinsky serves as President and CEO. For more information, visit www.hotelequities.com.
Contact: Sommer Shiver
678.578.4444, x 19
Former NH Carlton Amsterdam Reopens as NH Collection Amsterdam Flower Market Following Complete Renovation
Rockbridge and Makeready Open The Alida Hotel, a Tribute Portfolio Hotel in Savannah, Georgia
Next Story Group Acquires Melbourne Property to Establish the First LinQ Hotel
Caesars Entertainment to Sell Interest in Emerald Resort & Casino to South Africa-Based Peermont Hotels, Casinos and Resorts for $49 Million
Daly Seven Acquires Hilton Garden Inn Roanoke in Virginia
CoralTree Hospitality Group to Manage Steamboat Springs' 77-Room Ptarmigan Inn
Autograph Collection Hotels Welcomes Ireland’s National Treasure, The Shelbourne
AJ Capital Partners Acquires 112-Key Hilton Garden Inn Across From University of Tennessee
Hotel Equities Promotes Bryan DeCort to Executive Vice President
Civitas Capital Group Closes on Dual-Branded Hampton Inn by Hilton & Homewood Suites by Hilton in Silver Spring, Maryland
Wyndham Debuts Trademark Collection in Latin America with Opening of Costa Blu Beach Resort
Hospitality Properties Trust Acquires Wisconsin's Crowne Plaza Milwaukee West for $30 Million
Crescent Hotels & Resorts Adds Pointe Hilton Squaw Peak Resort, Joins Crescent’s Latitudes Collection
MCR Acquires Two Properties in Northwest Indianapolis
Hospitality Management Corporation to Manage Missouri's D'Monaco Luxury Resort
Braemar Group Selects Hotel Equities to Operate Six Hotels Located in British Columbia, Saskatchewan and Alberta
Marriott International Statement on Health of President and CEO Arne Sorenson
Blue Flag Acquires The Roberts Collection in Nantucket, Partnering With Life House on Management and Restoration
WorldHotels Adds Eden Roc Miami Beach to Its Elite Collection
The Ogunquit River Inn Joins Ascend Hotel Collection
Please login or register to post a comment.