Argosy Real Estate Partners has closed on the off-market acquisition of the 164-room Best Western Premier Hotel in Jacksonville, Fla. The property will be renovated and repositioned to a Delta Hotel by Marriott. The investment was made alongside 1754 Properties, a vertically integrated real estate investment, development and management company headquartered in Miami.
The hotel is located within the Southside/Deerwood Park submarket of Jacksonville, approximately seven miles from downtown Jacksonville and immediately off Interstate 95. Originally developed in 1989, the 164-room, six-story concrete, compact full-service property was converted to a Best Western Premier Hotel in 2018. The hotel features an on-site restaurant, a bar/lounge, outdoor swimming pool, three meeting/conference rooms totaling 3,880 square feet, a board room, guest laundry, sundries shop and fitness center. The business plan is to perform a comprehensive renovation and repositioning program, including si
