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The RADCO Companies Acquires Courtyard Properties in Gulf Coast, St. Petersburg
Atlanta, GA-based The RADCO Companies has acquired three Courtyard by Marriott hotels in FL totalling over 300 rooms.
Hunter Hotel Advisors brokered the deal involving the Courtyards in Pensacola and downtown Panama City Beach, while CRBE served as broker for the Courtyard in downtown St. Petersburg.
RADCO launched a hotel division in early 2021. With the news acquisitions, RADCO’s hotel portfolio has grown to nine properties, including six in FL. RADCO continues to seek out hospitality assets in line with the company’s overall investment strategy and is closing on additional hospitality properties before the end of the year.
“The continuing influx of new residents into Florida and strong market fundamentals, combined with the rebound underway in both the tourism and hospitality sectors, make these very attractive investments,” said RADCO CEO Norman Radow. “The properties have been performing well over the past several months and we see significant upside in all three of these assets.”
Photo: Courtyard Pensacola
- ◦Sale/Acquisition
