REO – Investment Sale – ABVI, Gainesville, FL



Lender leased the hotel to non-local operators based in Orlando; hotel was mismanaged and underperforming.

Significant deferred maintenance - 25% of the units were down in an operating hotel. Black mold in some units, and non-conforming, poorly executed renovations had been conduted by the previous owner/borrower.

Poor access - entrance to the hotel was obscured from the main street with no signage at the entrance due to an ongoing dispute with the city.


The previous owner intended on redeveloping the site to condos, and in doing so they caused significant damage to many of the units with sub-standard renovations. The lender foreclosed and leased the hotel to managers who were not locally based, and the property was underperforming.

We profiled the most likely buyer as local/regional owner operators, and ran a southeast regional marketing campaign into an auction event. We ran a traditional reserve auction, recommending that the lender/seller price the reserve at land value to encourage bidding. We also communicate the reserve price to the market. We received interest from 8 regional operators, creating demand and competition which solicited 22 offers.


Deal Type REO Sale
Property Type Hotel
Property Size 90 Units
Down Units 23
Year Built 1978
Property Taxes $17,034
Taxes Current Yes
Property Condition Poor
Environmental Issues No


Deal Website Views 1,823
Registered Visitors 365
Linked Flyers Downloaded NAP
CA’s Executed 16
Unique Bidders 8
Offers 22
Closing Period 30 days


  • Owner Operator

Institutional Execution Middle Market Focus