10/26/2022
TMGOC Ventures, a partnership between The Montford Group. and Opterra Capital, announce they have closed on the acquisition of three select-service Marriott and Hilton branded hotels totaling 430 rooms in Myrtle Beach SC, Charlotte and Roanoke Rapids, NC. TMGOC will invest in substantial physical enhancements across the portfolio while optimizing operations to drive market share and increase profitability. The company has hired Aimbridge Hospitality, the nation's largest third-party hotel management company, to operate the North Carolina hotels; Marriott Hotels manages the property in Myrtle Beach.
The Carolinas portfolio caps an acquisition streak of six hotels and hotel developments this fall for TMGOC, which includes the recently acquired Hilton Garden Inn Miami Beach and Aloft Charleston Airport. In the last 18 months, the partnership has raised over $120 million in equity and expanded its asset base to over $400 million, primarily focused on hospitality. TMGOC’s portfolio comprises twenty-two real estate assets, including two Moxy by Marriott hotels under construction (Charleston, SC and Charlotte, NC). The partnership’s future development pipeline is over $360 million with two luxury lifestyle hotels in Charleston, SC, an extended stay hotel at Jacksonville Airport and a mixed-use multifamily, retail and hotel project in downtown Macon, GA.
We are excited to see our portfolio grow in these markets moving forward!
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https://montfordgroup.com/presssunbelt3pack/