Savills Arranges Sale of Two Hotel Properties in Bethany Beach
Commercial real estate advisory firm Savills has negotiated the sale of the 112-room Bethany Beach Ocean Suites Residence Inn and the 100-room Holiday Inn Express in Bethany Beach, DE. Bethany Beach is approximately 14 miles north of Ocean City, MD.
Located at 99 Hollywood Street, the Bethany Beach Ocean Suites is affiliated with Residence Inn by Marriott. The oceanfront hotel offers resort-like suites, a full-service spa and five meeting rooms. The Holiday Inn Express Bethany Beach, an IGH Hotel, is located at 39642 Jefferson Bridge Road. The property has a 1,400-square-foot flexible conference space, a business center and sits two blocks from the beachfront.
Marc Magazine and Tom Baker of Savills’ Washington D.C. office represented the sellers, Bethany Boardwalk Group LLC and Bethany Beach Ocean Inn, LLC in the transaction. The buyer was EOS Acquisitions.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.