Opportunity fund buys in Mississippi, Georgia

ATLANTA – Woodvale Opportunity Fund I has acquired in an all-cash deal from Chartwell Hospitality two Southaven, Mississippi, Marriott hotels ($25 million) and the Fairfield Inn & Suites Buford near Atlanta, Georgia ($11 million).

The Southaven portfolio near Memphis, Mississippi, includes the Courtyard Memphis Southaven (85 keys) and the Residence Inn Southaven (78 keys). The Fairfield Inn & Suites Buford includes 94 suites and is located in a northern suburb of Atlanta. JLL worked on behalf of the buyer.

“Our acquisitions of the Southaven Marriott portfolio and the Fairfield Inn Buford underscore our commitment to adding high-quality, strategically located assets to our portfolio,” said Bashir Mansour, vice president of Investments for Woodvale. “We expect these assets to deliver strong returns for our investors while supporting the growth of their respective local hospitality segments.”

“Both the Southaven Marriott portfolio and the Fairfield Inn Buford align perfectly with Woodvale's strategy, allowing them to secure well-positioned assets with strong in-place yield while still offering further upside potential,” said JLL’s C.J. Kelly. “Woodvale’s all-cash acquisition strategy afforded them the opportunity to acquire assets at pricing superior to market standards.”