Ian Brown sells Candlewood Suites for $5 million

Ian Brown sells Candlewood Suites for  million

EXCLUSIVE: Oklahoma hotel chain buys extneded-stay lodge

An Oklahoma hotel chain recently purchased the Candlewood Suites extended-stay lodge and 1.2 acres of excess land in Jacksonville for $5 million, Prime Realty announced Friday.

Talks of an accompanying restaurant may also be part of the deal, said Ian Brown, broker associate at Prime Realty, who closed the deal with seller First Coast Hospitality LLC on Friday, July 11.

Champion Hotels purchased the 95-room hotel, located at 2700 Jane St. The purchase is the company's fourth hotel buy in Florida and first in the Jacksonville-area. The hotel is expected to retain its name.

The company currently owns two Comfort Inns in Sun City Center and Bradenton, as well as a Sleep Inn in Tampa.

“This is our first hotel closing and we are excited to be a new player in the hotel brokerage world," Prime Realty CEO Tyler Saldutti said. "We see great opportunity in future hotels sales.”

Champion Hotels has over 80 hotels throughout the U.S., with plans for 20 new hotels in the next two years

Written by: Andrew Thurlow
Jacksonville Business Journal
July, 11th, 2014