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Glamping offers the benefits of potentially lower costs associated with developing and operating properties and as a result, leading hotel operators are now on the radar screens of select hospitality investors.
The off-market sale of The Bravern produced strong interest from both domestic and foreign capital; however, the most competitive bidders at the latter stages of the marketing process were all foreign capital sources.
Following the sale of Riata, the venture's Austin portfolio includes 7700 Parmer, a four-building nearly 1 million-square-foot office campus located a short distance from the $1 billion 133-acre Apple facility underway.
"New construction is expensive in Central Florida so if you can find an asset which could be repurposed taking advantage of some existing structures, land uses, infrastructure, they become desirable for redevelopment."
"Since zoning is already in place for education and there is a high demand for school real estate in Miami, the interest was very strong by school users and investors with school tenants."