CHARLESTON, SC—In a deal arranged by HREC Investment Advisors, the former Sheraton Charleston Airport Hotel has been sold by an affiliate of LNR Partners, LLC.
The 289-room hotel is now being operated on a temporary basis as an InnPlace Hotel property, according to HREC. No purchase price or the identity of the buyer was revealed by the firm.
HREC's Monty Levy, senior vice president in the Atlanta office, Paul Sexton, vice president in the Orlando office, and Scott Stephens, COO and senior principal, in HREC's Tampa office, exclusively represented the seller in this transaction.
"We were very pleased with the outcome of our marketing efforts on this repositioning opportunity, and believe that we achieved very strong pricing with a highly-qualified buyer," says Levy.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
