DESTIN, FL – December 2024 – Edgewater Group LLC (“Edgewater”) is pleased to announce the sale of the Sleep Inn by Choice Hotels in Destin, FL.
The Property was originally bought by EC Hospitality LLC, a wholly-owned subsidiary of Edgewater Valley Forge Fund II LP for $6,500,000 in December of 2017. In December of 2021, EC Hospitality had refinanced this asset with a distribution to its Fund. The sale transaction concluded in December 2024, for the sale price of $7,000,000.
The Sleep Inn was a 77-room hotel located in walking distance to Miramar Beach.
For more information on Edgewater Group, visit www.edgewatergrpllc.com.
About Edgewater Group
Founded in 2008, Edgewater is a boutique multidisciplinary real estate Firm that provides management and value-add investment services. Edgewater’s unique focus is on the micro and middle market segments in secondary and tertiary locations in the United States.