Roch Capital Acquires 503-key Newly Renovated Holiday Inn Resort Orlando Lake Buena Vista
GLEN MILLS, PA, August 6, 2014 -
Roch Capital, one of the regions fastest growing Private Equity and Real Estate Investment Firms, announces the recent $44 Million acquisition of the Holiday Inn Resort Lake Buena Vista.
The 503-key full service resort hotel, a Walt Disney Good Neighbor Hotel, is located at 13351 S. Apopka Vineland Road (SR 535) near the main gate of Walt Disney World and other major Orlando attractions. Built in 1990, the property underwent a $20 million major renovation completed in 2012. With a mix of over-sized rooms including presidential, junior and kid friendly family suites in conjunction with resort style amenities such as an expansive pool, full service food and beverage through the new on-site Applebees, and private shuttle service to the major local attractions, this Resort offers unrivaled value for the quality and breadth of its offerings.
"We were drawn to the Holiday Inn Resort Orlando Lake Buena Vista by the amazing value proposition this hotel offers its customers", said Vincent Abessinio, Co-President, Roch Capital. "With the strong location, resort amenities, and reasonable price positioning we feel this asset will be a strong performer for the foreseeable future." The transaction, representing the largest hotel transaction this year in Orlando, was brokered by HFF directors Michael Weinberg and Max Comess. David Bednar of Ladder Capital (www.laddercapital.com) provided CMBS debt financing.
"The seller underwent a massive renovation of more than $20 million dollars to convert this asset from exterior to interior corridors. This process was unique and gave them a product offering that exceeds the expectations of guests with oversized rooms relative to the competition. "Customers love it!" said Weinberg.
ROCH Capital is a private equity and real estate investment company that invests in diversified real estate opportunities including hospitality, office, retail, flex/industrial, multifamily, manufactured home and recreational vehicle communities, student housing, mixed-use, single tenant net lease properties and corporate sale leasebacks. Acquisitions and investments are headed by Carl Kruelle, Senior Vice President & Director of Acquisitions. For more on ROCH Capital, please visit www.rochcap.com.