CHARLOTTE-Locally-based Tara Investments has acquired land in the Toringdon Circle development in South Charlotte and has begun site work on a new Homewood Suites by Hilton Hotel there.
Tara purchased a 6.2-acre parcel from Nationwide Realty Investors of Ohio for $1.8 million and now has launched construction on the 117-room hotel that is slated to open in April 2014.
The hotel will be the first Hilton-branded facility in the Ballantyne area, according to the Charlotte Business Journal and will feature a fitness center, outdoor pool, basketball court and meeting space. Kurt Schoenhoff of the Selwyn Property Group represented both the buyer and the seller in the transaction.
“This is an exciting opportunity for us given all that is happening in the Charlotte market combined with the strength of the Hilton brand," states Hasmukh Patel, a principal at Tara Investments, in a prepared release. See story in the Charlotte Business Journal.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.