WILMINGTON, Del.--(BUSINESS WIRE)--Officials of The Buccini/Pollin Group, a privately held, full-service real estate acquisition, development and management company (BPG), today announced that it has completed the acquisition of the 244-room DoubleTree by Hilton Hotel Wilmington. PM Hotel Group, a leading, national hotel management company based in Washington, D.C., will operate the hotel.
“BPG’s recent acquisition of the beautifully renovated DoubleTree by Hilton Hotel Wilmington evidences our deep commitment to the Northern Delaware community. We now own and operate six hotels in New Castle County, Delaware and continue to be impressed by the dynamic business environment,” said Dave Pollin, co-founder, BPG. “Hilton’s DoubleTree brand hits the mark perfectly in Wilmington with its combination of sophisticated style featuring local materials and artists and world class global distribution system. More than most, BPG appreciates the vibrancy of Northern Delaware, driven by large Fortune 500 companies and savvy entrepreneurs alike.”
Located within minutes of downtown Wilmington, the recently renovated hotel is near major corporate campuses and numerous historical attractions like Winterthur and is surrounded by restaurants, shopping and movie theaters. The hotel recently underwent an extensive $10 million upgrade to the entire hotel. With over 11,000 sq. ft. of function space, the DoubleTree by Hilton Hotel Wilmington is one of the busiest meeting and event hubs in the Mid-Atlantic.
2017 has been a particularly active year for BPG. Other highlights include:
- Broke ground earlier this month on the 260-room Virgin Hotels Nashville, Tenn., in partnership with Virgin Hotels and founder Richard Branson.
- Acquired the HOTEL DU PONT, an historic, Four Diamond, Grande Dame in the heart of Wilmington, Del.
- Acquired of the Sheraton DFW Airport Hotel, a 302-room, recently renovated hotel in dynamic Irving, Texas, epicenter of the Dallas Metroplex
- Completed over $30 million in renovations, upgrades and repositioning, including: a complete reimagining of the 353-room Sheraton Raleigh Hotel in N.C.; the first Renaissance Hotel in downtown Philadelphia; and an addition and comprehensive renovation of the Fairfield Inn King of Prussia, Pa.
- Opening the 310-room Embassy Suites Midtown Manhattan, the only Embassy Suites in New York City, in November
- Opening the 177-room Canopy by Hilton Hotel Washington, D.C. – Bethesda North in December
- Opening the 153-room Canopy by Hilton Portland, Ore. – Pearl District in early 2018
“We are on track to have another record year of portfolio growth,” Pollin added. “We continue to find compelling acquisition and development opportunities throughout the U.S. as we currently operate in 16 states and have the ability to execute coast to coast.”
About The Buccini/Pollin Group
The Buccini/Pollin Group, Inc. (Buccini/Pollin) is a privately held, integrated real estate acquisition, development and management company with offices in Washington DC, Wilmington, Philadelphia, and Baltimore. Buccini/Pollin has developed and acquired hotel, office, residential, retail, and parking properties throughout the United States. Buccini/Pollin has acquired, developed and owns real estate assets having a value in excess of $4.0 billion, including over 40 hotels, 6 million square feet of office and retail space, 10 major residential communities and multiple entertainment venues, such as Talen Energy Stadium, home of the Philadelphia Union Major League Soccer team. The principals of Buccini/Pollin, along with PM Hotel Group (hotel operating company), BPG Real Estate Services (office property management and leasing), ResideBPG (residential property management and leasing), BPGS Construction (construction management), oversee all aspects of project acquisition, finance, development, construction, leasing, operations, and disposition for its portfolio properties. The Buccini/Pollin Group has over 3,500 employees in 12 states. For more information, please visit www.bpgroup.net.