ARLINGTON, Va.--(BUSINESS WIRE)--Arlington, VA –based real estate investment firm Excel Group recently completed the acquisition of the 143-key Hilton Garden Inn Dobbs Ferry, located 16 miles away from New York City. The asset is a newly constructed hotel located in the newest upscale mixed-use complex in the surrounding area.
The Hilton Garden Inn Dobbs Ferry will be Excel Group’s 9th hotel acquisition over the past 18 months; totaling ~$250 million in new acquisitions.
“We are very excited to add this new asset surrounded by extremely diverse demand drivers to our portfolio,” remarked founder Shoham Amin. The hotel benefits from a diversified market with significant and stable demand from the following industries: hospital, healthcare, life sciences, corporate, IT, film, and education. The market is expected to see significant increase in demand through both corporate expansions and developments over the next few years.
ABOUT EXCEL: Excel Group is a Washington, DC-based real estate private equity firm that owns and develops hotels across the US. Since 2011 Excel Group has acquired 44 assets, totaling 5,482 rooms.