HREC Investment Advisors has arranged the sale of the 334-suite Embassy Suites in Lake Buena Vista, Fla. Paul Sexton, VP in HREC Investment Advisors Orlando office and Scott Stephens, COO and SR. Pincipal in the Tampa office, represented the seller during the transaction.
The Embassy Suites is located proximate to theme parks, including Walk Disney World, Universal Resort Orlando and SeaWorld Orlando.
"The sale of the Embassy Suites Lake Buena Vista represents yet another high-profile hotel transaction in 2013 for Central Florida," said Stephens. "The hotel investment community is seeing record setting RevPAR performance in the Orlando Market and a long runaway of economic growth and they are going 'all in' on key assets."
Commented Paul Sexton, HREC's Central Florida practice leader and member of the company's mortgage brokerage group: "In light of the regional market's extraordinary recovery, coupled with still-low interest rates, we expect to see record levels in 2014 of hotel refinancing activity in the region."