Lee County hotel sells for $11 million

The 111-room Holiday Inn Express & Suites in Fort Myers has sold. 

The property at 3427 Forum Blvd. was bought by the Archer Capital Group, which paid $11.1 million according to CoStar. (Lee County records show the buyer as Haven Street Lodging LLC. One of the LLC’s managers is the managing principal at Archer.) 

The seller was American Hotel Income Properties which, Lee County property records show, paid $12.48 million in 2016. 

CoStar says the sale was part of the Vancouver REIT’s “broader disposition program announced alongside its strategic review.” The sale was structured as a 1031 exchange and included all the furniture, fixtures and equipment. 

The six-story hotel was built in 2009. It is 66,292 square feet and was completely renovated in December 2020. 

Natalie Jaramillo of Berkadia represented the buyer in the transaction. Jaramillo, Dylan Jones, Larissa Isenberg and Kyle Stevenson of Berkadia represented the seller.