Argosy Real Estate Partners exits the PRISA Hotel Portfolio

Argosy Real Estate Partners III and its parallel funds have exited an investment in the PRISA Hotel Portfolio (PRISA).

The portfolio includes the development of two Marriott branded hotels, a 175-room AC Hotel in Tampa, Fla., and a 254-room dual-branded Residence Inn/SpringHill Suites in Orlando, Fla. The partnership sold the Residence Inn/SpringHill Suites in Orlando in May 2018 and the AC Hotel in Tampa in September 2018.

In July 2016, Argosy partnered with Peachtree Hotel Group and PRISA Group to develop the two hotels.

This was Argosy’s sixth investment with Peachtree Hotel Group. Peachtree is an experienced hospitality owner, manager, developer and lender. PRISA Group is an experienced developer and builder of hospitality properties and residential communities with significant experience in both Florida and Puerto Rico.