Peachtree Community Acquires AC Resort by Marriott in Park City, Utah
ATLANTA—Peachtree Community persevered to form momentum with its sixth resort acquisition of the year with the AC Resort by Marriott in Park City, Utah, exhibiting the growing equity investment opportunities re-rising in the hospitality sector.
“Our group has successfully received a alternative of resort properties at below-market prices, taking advantage of essentially the newest slowdown in transactions,” said Greg Friedman, managing predominant and CEO of Peachtree. “While the market is slower than frequent as a result of high pastime rates, tighter lending stipulations, financial, and geopolitical uncertainty, we proceed to live active, capitalizing on odd opportunities that come up on this surroundings while employing a pair of solutions, which permit us to capitalize on essentially the newest market dislocation. By staying patient and strategic, we’ve been ready to accurate precious assets while others take a more cautious technique.”
The six acquisitions, totaling 789 rooms, encompass three Hilton accommodations and three Marriott accommodations. All accommodations are operated by Peachtree’s hospitality administration division, which at this time manages 93 accommodations, right through 27 brands with 11,837 rooms positioned in 26 states.
The received properties encompass:
- 100-room AC Resort by Marriott in Park City, Utah
- 128-room Field Inn by Marriott in Wesley Chapel, Florida
- 114-room Field Inn by Marriott in Oakhurst, Novel Jersey
- 146-room Home2 Suites by Hilton in Falls Church, Virginia
- 130-room Home2 Suites by Hilton in Lawrenceville, Georgia
- 180-room Hilton Garden Inn in Denver, Colorado
Because the transaction market normalizes, Peachtree remains positioned to develop its portfolio and enhance long-timeframe returns.
“What’s a ways more promising is that the show-build a question to gap between customers and sellers is beginning to narrow, as outdoor market pressures proceed to construct stress on property-stage economics. Given these factors, we live up for an amplify in transaction command in the waning months of 2024 and into 2025,” Friedman said.
Homeowners with looming maturities are turning into more motivated to sell in assign of face costly refinancing, constructing opportunities for capitalized customers.
“Because the market rebalances, we’re successfully-positioned with a various platform and a confirmed computer screen report of execution that will permit us to proceed our momentum and rob on handsome opportunities in the months ahead, ” Friedman added.
