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Investment group buys Estero Embassy Suites


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  • | 3:33 p.m. July 30, 2010
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BUYER: RLJ III-EM Fort Myers LLC, Bethesda, Md.


SELLER: Carroll Hotel 21 LLC


PROPERTY: 10480 Corkscrew Commons Drive, Estero


PRICE: $11.4 million


PREVIOUS PRICE: $87,000 and $168,800, April 2005


LAW FIRM ON DEED: Greenberg Traurig PA, Orlando



PLANS, DESCRIPTION: A hotel investment group purchased the 150-suite Embassy Suites Estero-Fort Myers for $11.4 million.


The price equated to $76,000 per suite.


The buyer, RLJ III-EM Fort Myers LLC, is an affiliate of Bethesda, Md.-based hotel/resort investment firm RLJ Development LLC. The company declined to comment on the deal.


The four-year-old, seven-story hotel occupies 4.73-acres. The hotel features a business center, meetings rooms, a fitness room, a pool and the Eagles Nest Cafe.


RLJ Development purchased the 360-suite Embassy Suites Downtown Tampa on Florida Avenue for $77 million earlier this year. The firm's entities also own a Courtyard by Marriott, a Fairfield Inn & Suites and a Homewood Suites in Brandon, in addition to a Hampton Inn & Suites in Clearwater.

 

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