Charleston, SC – On April 30, Wessex Capital Investments closed on the sale of the 117-room Hilton Garden Inn located in Roanoke, VA. Wessex negotiated with several buyers to complete the transaction on behalf of its developer client. Wessex timed the sale of this property in order to capitalize on advantageous market conditions and strong performance of the building. The sale was completed in alignment with the investors’ exit strategy and exceeded the projected IRR and multiple.
The hotel is located on the upscale South Peak campus in the most desirable area of Roanoke, VA. South Peak offers luxury condos, home sites, shopping and dining all on the same campus as the Hilton Garden Inn. The hotel has benefited from strong occupancy since opening in 2014 as a result of strong demand and the luxury campus setting.