Legendary Capital Sponsors Acquisition of Two Hilton Garden Inn Hotels
Legendary Capital has sponsored the acquisition of the 113-room Hilton Garden Inn Pineville in a $10.7 million transaction, and the 112-room Hilton Garden Inn Charlotte North
Legendary Capital has sponsored the acquisition of the 113-room Hilton Garden Inn Pineville in a $10.7 million transaction, and the 112-room Hilton Garden Inn Charlotte North in a separate $15 million transaction with the same owner.
These acquisitions follow two other hotels acquired by Legendary Capital earlier in August, a Residence Inn Fort Collins and a Hilton Garden Inn El Paso University.
“The Hilton Garden Inn brand continues to be an attractive investment, and we are happy to have found two in this market,” said Corey Maple, chief executive officer. “These particular properties are expected to be excellent performers after we put them through extensive renovations.”
The hotels are both located in the Charlotte-Gastonia-Concord metropolitan statistical area. The Hilton Garden Inn Pineville is located near the intersection of State Highway 51 and I-485, and the Hilton Garden Inn Charlotte North is located near the intersection of I-77 and I-485.
Charlotte is the 15th largest city in the U.S and the fourth largest city in the southeast, with a population of 912,000. The company said, “Charlotte is the second largest financial hub in the country after New York City, with banks such as Wells Fargo and Bank of America either being headquartered or having their major regional offices in the city.” The city is also home to the University of North Carolina at Charlotte which has nearly 30,000 students.
Through its affiliated entities, Legendary Capital has acquired more than 30 hotels in its portfolio, primarily targeting 80-to-200 room limited-service, select-service, full-service and extended-stay hotels in America’s heartland. The company is headquartered in Fargo, North Dakota.
