Tishman Expands Orlando Hospitality Portfolio
Karlson’s Hospitality traded the three properties, which include 400 guestrooms, for $66 million. The new owner funded the acquisition with a $58.5 million loan.
By Jeff Hamann
The Homewood Suites Orlando Theme Parks
Tishman has acquired three hotels from Karlson’s Hospitality in Orlando, Fla., totaling 400 guestrooms. The new owner paid $66 million for the trio of buildings, according to Orange County records. Tishman funded the purchase with a $58.5 million loan held by Bank of America.
The first asset, the Homewood Suites Orlando Theme Parks, is positioned at 6940 Westwood Blvd., adjacent to Interstate 4 and within half a mile of SeaWorld Orlando. Built in 2017, the property contains 133 one- and two-bedroom suites. On-site amenities include a fitness center, a business center, meeting rooms and laundry facilities.
The Homewood Suites and Hilton Garden Inn Lake Buena Vista
The second hotel, the 130-key Homewood Suites Lake Buena Vista, sits two miles to the south along Interstate 4, at 11428 Marbella Palm Court. Opened in 2009, the seven-story structure is located approximately four miles from Disney’s Epcot Center theme park. Guest amenities include a business center, complimentary Wi-Fi and a fitness center.
The third property in the portfolio, the 137-key Hilton Garden Inn Lake Buena Vista, is located next door to the Homewood Suites, at 11400 Marbella Palm Court. Also built in 2009, the asset contains a mix of one-bedroom guestrooms and suites. The hotel features 5,400 square feet of event space, a 24-hour business center and a swimming pool.
As these assets change hands, a number of theme park-area hospitality projects are in the pipeline, including DCS Real Estate’s 516-key JW Marriott Bonnet Creek, anticipated to open by the end of next year.
Images via Google Street View
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