Homewood Suites Jacksonville Changes Hands

A joint venture acquired the 117-key extended-stay hotel for nearly $15 million as part of a larger, 18-property portfolio deal.
Homewood Suites by Hilton Jacksonville Deerwood Park
Homewood Suites by Hilton Jacksonville Deerwood Park. Image via Google Street View

A joint venture between Three Wall Capital and Guggenheim Investments has acquired Homewood Suites by Hilton Jacksonville Deerwood Park, a 117-key extended-stay hotel in Jacksonville, Fla. The Generation Cos. sold the asset for $14.9 million, per Duval County records.

The transaction was part of a larger, 1,973-key portfolio deal which included extended-stay hotels in North Carolina, Virginia, Florida, Texas, Tennessee and Georgia. Public records show the buyer financed the 18-property acquisition with a $167.1 million loan from Guggenheim.

Located on 3 acres at 8511 Touchton Road, the hotel is approximately 8 miles southeast of downtown Jacksonville. The property is within 5 miles of interstates 95 and 295 as well as the Avenues Mall and St. Johns Town Center.

The Homewood Suites Jacksonville Deerwood Park opened in 2016, previously operating under the Staybridge Suites flag. The four-story hotel offers studio, one- and two-bedroom guestrooms with fully equipped kitchens. Amenities include complimentary Wi-Fi, a business center, a fitness center, an outdoor pool and two grill-equipped patio areas.

Another Homewood Suites hotel is underway in nearby St. Augustine, Fla., after developer 3H Group received $19.5 million in construction financing in March. The development site is 34 miles south of Homewood Suites Jacksonville Deerwood Park.