The Real Deal Miami

Aloft hotel near Jacksonville airport sells for $13.5M

BMO Harris Bank financed the acquisition by the hospitality division of Los Angeles-based Gher Group
February 11, 2018 02:00PM

Aloft hotel near Jacksonville International Airport ( Credit: HotelRoomSearch-net)

A Los Angeles-based company bought an Aloft hotel near Jacksonville International Airport for $13.5 million with bank financing.

A company affiliated with the hospitality division of L.A.-based Gher Group paid almost $100,000 per room for the 136-room Aloft hotel.

“We like the Jacksonville lodging market, with its rapidly improving local economy, strong employment market and robust port trade,” David Lifschitz, president and CEO of Gher Group, said in a prepared statement.

Gher plans to invest in upgrades to the guestrooms and public areas at the hotel, which has a gym, an outdoor pool, a bar and 600 square feet of meeting space.

The hotel is located at 751 Skymarks Drive in Jacksonville, near a shopping center called River City Marketplace.

BMO Harris Bank financed Gher’s acquisition of the hotel, the first Aloft added to the Gher’s hotel portfolio. The seller was an entity called PHVIF Jacksonville. [Jacksonville Daily Record]Mike Seemuth