Jacksonville, FL, December 30, 2021 — Montford Group announced its fifth hotel acquisition in Florida this year, the 136-room Aloft by Marriott, Jacksonville Airport, closing out 2021 with over $200 million in real estate transactions.
Aloft Jacksonville Airport is strategically located three miles east of Jacksonville International Airport, easily accessible via Interstate 95. Developed in 2009 and renovated in 2019, the hotel sits in one of the most populous cities in Florida.
“The hotel enjoys the most convenient and walkable location in the submarket, surrounded by rapidly growing regional demand generators and recent development activity such as River City Marketplace, UF Health North, and the under-construction Department of Veterans Affairs Regional Center,” said Glenn Alba, Co-Founder and Managing Partner of Montford Group.
“We are thrilled to invest in the dynamically growing Jacksonville market. It is a great addition to our portfolio in a well-located destination near popular Jacksonville beaches, mixed-use real estate, and the airport,” said Sunju Patel, Co-Founder and Managing Partner of Montford Group. Aimbridge Hospitality was selected to manage the property on behalf of ownership.
“As we review 2021, Montford Group had a very active year, closing on over $200 million in real estate transactions across hotel, multi-family and office sectors in Florida and Charleston, SC. Our focus on the southeastern United States has provided our investors with exposure to markets showing outstanding growth potential,” said Glenn Alba. Sunju Patel added, “This past year has been a great success for Montford Group. We are very thankful to our hard-working team, our investors, and our debt partners, and we are ready to take on 2022 with multiple deals already in the pipeline.”
2021 milestones included:
- Grand opening of Hotel Melby, Tapestry Collection by Hilton, in Melbourne, Florida (180 keys)
- Breaking ground on Moxy by Marriott in Charleston, SC (131 keys)
- Holiday Inn & Suites in Boca Raton, FL (180 keys)
- Hampton Inn by Hilton in Sarasota, FL (121 keys)
- Hilton Garden Inn in Sarasota, FL (115 keys)
- Home2 Suites by Hilton in Sarasota, FL (109 keys)
- Regions Bank Charleston office building (30,000 SF)
- Gables Court in Miami, FL condominium units (39 units)
