Hotel Brokers International Arranges Two Sales in South
CLEARWATER, FL, March 01, 2006. Greene, Canfield, De George, Ltd., a Clearwater, FL-based Hotel Brokers International member, has negotiated the sale of the Suburban Lodge in Garner, NC, and the Lake of the Woods Resort in Maitland, FL.
An undisclosed investment group acquired the eight-year-old, 140-room Suburban Lodge for $5 million. The new owner will now rebrand the extended-stay property. It was previously renovated in 2003 and features full in-room kitchens, weekly housekeeping service and onsite washers and dryers.
Meanwhile, the Lake of the Woods Resort sold for $2.2 million. The unnamed buyer of the 38-unit property plans on closing the motel and constructing luxury lakefront condominiums on the four-acre site, which is in metropolitan Orlando.
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