Oct 04, 2021 The Montford Group. and Opterra Capital Acquire 3-Hotel Portfolio In Sarasota, FL
SARASOTA, FL (September 30, 2021) — The Montford Group. and Opterra Capital LLC, (TMGOC.) announce their second hotel transaction in Florida this summer, acquiring a 3-hotel portfolio totaling 345 rooms in Sarasota, FL. The portfolio consists of the 109-room Home2 Suites Sarasota Bradenton Airport, 115-room Hilton Garden Inn Sarasota Braden- ton Airport and the 121-room Hampton Inn Sarasota I-75 Bee Ridge. Located in a high growth leisure driven market, The Hilton Garden Inn and Home2 Suites are strategically located side-by-side in a premium position between the Sarasota Bradenton Airport and The University of South Florida and less than 10 miles from Siesta Key Beach, the nation’s number one beach. The Hampton Inn is conveniently located just off I-75 in the business district of East Sarasota.
“We are excited to invest in the dynamically growing Sarasota market. This portfolio is extremely well located near the popular sports facilities such as Florida International Training Center, Ed Smith Stadium and IMG Academy dedicated to young student athletes. With the impressive array of amenities, we should see our portfolio grow in the market going forward” says Sunju Patel, Founder and CEO of The Montford Group.
“This Sarasota 3-hotel portfolio is a continuation of our thematic approach to investing in dynamic markets with excellent growth characteristics driven by population and economic migration and strong leisure demand. The Sarasota market has already sur- passed 2019 operating performance levels and is well positioned to continue it’s impressive, nation leading growth” says Glenn Alba, Founder and CEO of Opterra Capital.
TMGOC. acquired the fee simple interest in the Sarasota 3 Hotel Portfolio, in one of the fastest growing markets in the United States, on September 30th, 2021. Aimbridge Hospitality was selected to manage the three properties on behalf of ownership.
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About The Montford Group.
The Montford Group. is a real estate investment and development company with more than 50 years combined experience in real estate investments, acquisitions, and dispositions along with horizontal and vertical development. From the creative minds of seasoned entrepreneur duo Sunju Patel and Jessica Reid, The Montford Group. set off to curate an unrivaled collection of unique properties and remarkable experiences for people who believe that home and hospitality shouldn’t be rare finds, but the common ground that unites us. The company has developed two hotels in Charleston (totaling 229 keys) as well as approximately 190,000 SF of residential properties, 275,000 SF of retail space, 500,000 SF of industrial space, 225,000 SF of office space and 90,000 SF of medical office and hospital space. Today, their portfolio consists of over 40,000 SF of office and retail along with over 600 hotel keys of existing and ground-up development that include Moxy by Marriott and Thompson by Hyatt.
About Opterra Capital, LLC
Opterra Capital is a Boca Raton, FL based real estate investment sponsor and operating partner, capital markets advisor, and asset manager with significant experience in all sectors of commercial real estate. Founded by Glenn Alba, a former Managing Director at Blackstone for 20 years, Opterra Capital consists of four industry-professional principals with more than 80 years of experience in hotel ownership, asset management and development. Opterra Capital seeks to leverage this expertise towards value-add acquisition and proactive investment management to deliver attractive, risk-adjusted returns.
About Aimbridge Hospitality
A leading, global hospitality company offering best in class hotel management services across a broad spectrum of franchised branded full service, select service, luxury hotels, destination resorts, convention centers and lifestyle hotels. Aimbridge’s premium portfolio represents approximately 1,500 properties in 49 states and 20 countries, inclusive of pipeline. With the most robust brand diversity in the industry, Aimbridge and its affiliates represent 84 lodging brands, in addition to more than 82 independent boutique/lifestyle hotels in the portfolio. As the world’s largest third-party operator, Aim- bridge is dedicated to its mission to leverage its scale to add value for owners and opportunities for associates better than any hospitality operator. Aligned with a concentrated focus, agility and expertise for each vertical, Aimbridge drives market success for hotels and optimizes investment returns for owners. Aimbridge Hospitality’s global head- quarters is based in Plano, Texas, with additional corporate offices in Atlanta, Calgary, Fargo, Puerto Rico and Washington, D.C. Evolution Hospitality, Aimbridge’s Lifestyle Division, is based in San Clemente, Calif. Aimbridge’s International Division, Interstate Hotels& Resorts, has supporting offices across Europe in Amsterdam, Birmingham, Glasgow and Moscow. The company’s division in Mexico, Group Hotelero Prisma, has offices in Monterrey and Mexico City. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com and connect with Aimbridge on LinkedIn.
For More Information:
Founder & CEO, The Montford Group.
Founder & CEO and President, Opterra Capital, LLC