Comment about Kurt (see below for details and context):
Kurt Schoenhoff at Selwyn Property Group represented both the seller and the buyer.
Full Article:
Charlotte hotel developer Tara Investments has purchased 6.2 acres in the Toringdon Circle mixed-use development in south Charlotte and has begun site work for a four-story, 117-room hotel that is expected to open next year.
The hotel will be a Homewood Suites by Hilton, an all-suite hotel designed for customers who are relocating or staying on business for multiple days at a time.
Tara purchased the site from an affiliate of Ohio-based Nationwide Realty Investors for $1.8 million. Nationwide successfully rezoned 7.5 acres in the development for a 120-room hotel and an additional 8,000 square-foot building in October.
The project will be the first Hilton-branded hotel in the Ballantyne area and will feature amenities such as a fitness center, outdoor pool, basketball court and a home office and meeting space.
“This is an exciting opportunity for us given all that is happening in the Charlotte market combined with the strength of the Hilton brand,” said Hasmukh Patel, a principal at Tara Investments, in a release.
Toringdon Circle is at the intersection of Johnston and North Community House roads, near the Interstate 485 interchange at Johnston Road. The development is anchored by a Pike Nurseries store and includes retail and office space.
The site is about a mile from Ballantyne Corporate Park, which just signed a massive new tenant.
The Homewood Suites is expected to open in April of 2014. Kurt Schoenhoff at Selwyn Property Group represented both the seller and the buyer.
Will Boye
Senior Staff Writer
Charlotte Business Journal
