Thursday, September 18, 2014

Aloft hotel at EpiCentre bought by investment group

A Los Angeles-based investment group has bought the Aloft hotel at the EpiCentre in uptown Charlotte. Lowe Enterprises Investors announced Thursday that it bought the 175-room hotel on behalf of an investment client. A subsidiary, Destination Management, has assumed management of the hotel, which will continue operating under the Aloft banner.

Terms of the transaction were not announced.

"Charlotte is one of the strongest markets in the Southeast and one of the fastest-growing cities in the U.S., making it a very attractive area for investment," said Bleecker Seaman, co-CEO of Lowe Enterprises Investors.

This summer, McKibbon Hotel Management of Florida and Charlotte-based Vision Ventures and Mount Vernon Asset Management announced plans to build a 20-story, 302-room hotel tower at the EpiCentre. Vision Ventures and Mount Vernon Asset Management sold the EpiCentre earlier this year to Los Angeles-based CIM Group for $130.5 million.


James Edgar said...

What's the new hotel going to be? Since developers are convinced that there is not a single human being in Charlotte that makes less than $500,000.00 a year, I'm guessing a Conrad, Waldorf Astoria, Hyatt Regency or something with Donald Trump's fingerprints.

Nukie43 said...

I believe that hotels are built for visitors to our fine city like conventioneers, sports fans and tourists. I hope it is a fancy hotel because the higher the room rate, the more taxes the city collects and the way this city spends money, they can use all the help they can get.