Hawkeye, HOS Acquire $9M Florida Hotel

Marcus & Millichap brokered the sale of Hotel Indigo in downtown Fort Myers, which features a rooftop pool and bar, as well as a fitness center.
Hotel Indigo River District

After unveiling its plan for the 100-key Cambria Hotel Downtown Minneapolis earlier this month, Hawkeye Hotels—in a joint venture with HOS Management—has acquired a 60-key Hotel Indigo in Fort Myers, Fla., for $9.3 million. Marcus & Millichap represented the seller, a limited liability company, and procured the buyer in the deal.

At 1520 Broadway Suite 104, the hotel is situated downtown, in the River District near freeways 41 and 82. The walkable city center offers many dining and entertainment options. The seven-story hotel was constructed in 2009 and encompasses 60 guestrooms and seven suites. Additionally, the hotel features amenities such as a rooftop pool and bar, a lobby bar, valet parking and a fitness center. The buyer intends to renovate the property, as well as to implement a new strategic management and marketing plan.

“The iconic Hotel Indigo is arguably the most desirable hotel in downtown Fort Myers’ River District,” said Jonathan Ruprai, senior director of Marcus & Millichap’s National Hospitality Group, in prepared remarks. “Over the past several years, increased demand for overnight accommodations in the River District, fueled by growing business and leisure travel generators, have created significant growth for this asset.”

Photo via Google Street View