Opportunity fund acquires hotel assets near Memphis and in a northern Atlanta suburb

ATLANTA, Dec. 3, 2024 –  JLL Capital Markets announced today, on behalf of Woodvale Opportunity Fund I, the closing of a $25 million acquisition of the Southaven Marriott Portfolio, and the $11 million acquisition of the Fairfield Inn & Suites Buford. 

The Southaven Portfolio includes the Courtyard Memphis Southaven (85 keys) and the Residence Inn Southaven (78 keys), both located in Southaven, Mississippi, part of the greater Memphis metropolitan area. The Fairfield Inn & Suites Buford includes 94 suites and is located in a northern suburb of Atlanta.

JLL worked on behalf of the buyer, Woodvale Opportunity Fund I, who purchased the portfolio from Chartwell Hospitality.

Built in 2007 and 2006 respectively, these hotels offer modern amenities catering to both business and leisure travelers. The Residence Inn features spacious all-suite accommodations with full kitchens, complimentary hot breakfast and an outdoor pool. The Courtyard boasts The Bistro restaurant, 609 square feet of flexible meeting space and an indoor pool. Both properties provide 24/7 fitness centers high-speed internet access, flat-screen televisions and ample workspaces in their rooms.

The hotels' strategic location off I-55 offers easy access to major attractions, including Memphis International Airport, Downtown Memphis, Baptist Memorial Hospital DeSoto and popular retail destinations like Southaven Towne Center Mall and Tanger Outlets Southaven.

“Our acquisitions of the Southaven Marriott Portfolio and the Fairfield Inn Buford underscore our commitment to adding high-quality, strategically located assets to our portfolio,” said Bashir Mansour, Vice President of Investments for Woodvale. “We expect these assets to deliver strong returns for our investors while supporting the growth of their respective local hospitality segments.”

The JLL Capital Markets team was led by Managing Director C.J. Kelly and Senior Director Bobby Norwood.

“Both the Southaven Marriott Portfolio and the Fairfield Inn Buford align perfectly with Woodvale's strategy, allowing them to secure well-positioned assets with strong in-place yield while still offering further upside potential,” said Kelly. “Woodvale’s all-cash acquisition strategy afforded them the opportunity to acquire assets at pricing superior to market standards.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Woodvale is a leading Private Equity Firm focused on Commercial Real Estate In the Southeast and Central U.S. For over 50 years Woodvale has cemented itself as a leader in the development, acquisition, and management of high-quality commercial properties. Today, Woodvale manages a diverse portfolio valued at over $600 million across multiple sectors in the southeastern United States, including hospitality, media, industrial, and retail. Leveraging the combined expertise and market knowledge of the team, Woodvale is dedicated to executing on strategic investments that deliver robust, risk-adjusted returns for investors while fostering positive impacts within the communities we touch. Known for its balanced approach, Woodvale integrates data-driven insights with deep market knowledge, ensuring each investment aligns with both financial goals and community needs.