Assignment Overview
RobertDouglas advised Lixi Group on the sale of the Staybridge Suites Philadelphia/Mt. Laurel to Delco Development.
Project Overview
Sprawling across over four acres in Mount Laurel, New Jersey, the 99-room Staybridge Suites Philadelphia - Mt. Laurel is ideally situated on the southeast quadrant of the intersection of the New Jersey Turnpike and SR-73. A suburb of Philadelphia and part of the South Jersey region, the Mt. Laurel township is easily accessible to both the city of Philadelphia and the Jersey Shore off of Exit 4 of the New Jersey Turnpike.
The pet friendly hotel includes an on-site business center, a 24-hour marketplace, a fitness center, an indoor swimming pool, an outdoor multi-purpose sports court, and complimentary guest laundry machines. The hotel offers free appetizers and drinks during “social hour” between 5:30 PM and 7:00 PM Monday – Wednesday and daily complimentary breakfast.
Deal Highlights
| Client (Seller): Buyer: Sale Proceeds: Key Count: | Lixi Group Delco Development $13.2 million 99 |
