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Inland American to expand commercial property in joint venture

If you're living in South Carolina, you might be interested to know that Inland American Real Estate Trust is planning on opening a hotel in the area. According to the news from Jan. 27, the commercial property in South Carolina, as well as a second in Alabama, will have a combined investment value of $68.5 million. This is a joint venture, according to the news, as Kessler Enterprises is the second partner.

According to the story, the ventures are planning on creating two luxury boutique hotels. Each aims to be known for high-quality service, character and unusual and unique details. In total, it's expected that the hotels will have around 150 rooms combined.

The hotels in this group are already affiliated with Marriot and its Autograph Collection, which is a group of high-quality boutique hotels. When discussing the venture, the president and chief executive officer of Inland American Lodging Advisor, Inc. stated how this investment would allow the group to add to its portfolio. The hotels would be positioned in such a way that it could be expected for them to grow and to catch a part of the market that had been missed.

According to the CEO, Charleston and Birmingham, where the hotels will be built, are areas that have request for modern comfort and amenities, yet no hotels had been built with a high-end or luxury design in at least the past decade.

The hotels are set to debut as soon as 2015, and they will both be part of the Autograph Collection for Marriott. In the joint venture, Inland American will be the majority owner, allowing the hotels to join the ranks with the Hilton, Starwood, Hyatt, Fairmont, Kimpton, IHG and Marriott brands.

Commercial real estate attorneys understand the complexities and difficulties that can be encountered in any real estate deal. These professionals ensure that their clients' interests are protected from the beginning to the end of the deal.

Source: Hotel News Resource, "Inland American Real Estate Trust to Develop Two Hotels in South Carolina and Alabama" No author given, Jan. 27, 2014

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