{"id":1004287514,"date":"2018-12-20T03:14:23","date_gmt":"2018-12-20T11:14:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004287514"},"modified":"2022-12-06T19:17:38","modified_gmt":"2022-12-07T03:17:38","slug":"adi-global-acquires-93m-hotel-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/adi-global-acquires-93m-hotel-portfolio\/","title":{"rendered":"AD1 Global Acquires $93M Hotel Portfolio"},"content":{"rendered":"<p>By Holly Dutton<\/p>\n<div id=\"attachment_1004287523\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/1-e1545254098199.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004287523\" data-attachment-id=\"1004287523\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/adi-global-acquires-93m-hotel-portfolio\/double-tree-atlanta\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/1-e1545254098199.jpg\" data-orig-size=\"845,634\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Lingerfelt CommonWealth Partner&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;DoubleTree Atlanta&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Double-Tree-Atlanta&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Double-Tree-Atlanta\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;DoubleTree by Hilton Atlanta North Druid Hills-Emory Area&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/1-e1545254098199.jpg?w=845\" class=\"wp-image-1004287523 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/1-e1545254098199.jpg\" alt=\"DoubleTree by Hilton Atlanta North Druid Hills - Emory Area\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/1-e1545254098199.jpg 845w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/1-e1545254098199.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/12\/1-e1545254098199.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004287523\" class=\"wp-caption-text\">DoubleTree by Hilton Atlanta North Druid Hills &#8211; Emory Area<\/p><\/div>\n<p>AD1 Global has acquired five hotel properties spread throughout the South for $92.5 million. The 758-key portfolio comprises buildings in Orlando, Atlanta and Charlotte, N.C. The seller was Lingerfelt Commonwealth Partners.<\/p>\n<p>The portfolio includes two Florida properties: Fairfield Inn &amp; Suites by Marriott Orlando Lake Buena Vista, a 170-key property located at 12191 S. Apoka Vineland Road in Lake Buena Vista, Fla., and Fairfield Inn by Marriott Orlando Airport, a 139-key hotel situated at 7100 Augusta National Drive in Orlando.<\/p>\n<p>In Georgia, the portfolio encompasses two Atlanta-area hotels: DoubleTree by Hilton Atlanta North Druid Hills-Emory Area, a 208-key hotel located at 2061 N. Druid Hills Road NE and Hampton Inn Atlanta-North Druid Hills, a 111-key hotel located at 1975 N. Druid Hills Road. The 130-key Courtyard by Marriott Charlotte Gastonia hotel at 1856 Remount Road in Gastonia, N.C., is the fifth asset of the portfolio.&nbsp;<\/p>\n<p>Lingerfelt Commonwealth <a href=\"https:\/\/www.commercialsearch.com\/news\/lingerfelt-picks-up-2-fairfield-inns\/\">purchased the hotels for $68.5 million<\/a> at the beginning of 2015<span class=\"xn-money\">&nbsp;and<\/span>&nbsp;spent $8.5 million on repositioning the properties.<\/p>\n<p><em>&#8220;Over the last several years, Commonwealth Lodging successfully implemented our strategic renovation and repositioning plan, resulting in significant long-term improvement to average daily rates, guest satisfaction ratings and average occupancy,\u201d<\/em> said Ryan Lingerfelt, president &amp; chief investment officer of Lingerfelt Commonwealth, in prepared remarks.&nbsp;<\/p>\n<p><em>Image courtesy of Lingerfelt Commonwealth Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seller Lingerfelt Commonwealth Partners spent $8.5 million on renovating the properties during its three-year ownership. The five assets are located in Orlando, Atlanta and Charlotte. N.C.<\/p>\n","protected":false},"author":745,"featured_media":1004287523,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21751,21783,21742],"tags":[38224,32805,43478,43475,33877],"class_list":["post-1004287514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-hotel","category-investment","category-latest","tag-ad1-global","tag-hilton","tag-j-ryan-lingerfelt","tag-lingerfelt-commonwealth-partners","tag-marriott"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AD1 Global Acquires $93M Hotel Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/adi-global-acquires-93m-hotel-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AD1 Global Acquires $93M Hotel Portfolio\" \/>\n<meta property=\"og:description\" content=\"Seller Lingerfelt Commonwealth Partners spent $8.5 million on renovating the properties during its three-year ownership. The five assets are located in Orlando, Atlanta and Charlotte. 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