Raines adds the Home2 Suites by Hilton Charlotte University Research Park in Charlotte, N.C., to its management portfolio. Raines assisted the undisclosed owner in acquiring the property, facilitating the transaction from start to finish.
The Home2 Suites by Hilton Charlotte University Research Park is in University City, a developing district in northeast Charlotte. The market has a blend of academic, corporate, and residential communities, as well a diverse array of industries. Major employers in the area include Allstate, IBM, AT&T, Duke Energy, TIAA, and Wells Fargo. The hotel is five minutes away from UNC Charlotte and Atrium Health University City. For racing enthusiasts, the property has proximity to the Charlotte Motor Speedway, zMAX Dragway, and the NASCAR Hall of Fame.
The 105-key hotel’s suites include the usual Home2 Suites amenities, including fully equipped kitchens. There is an indoor pool and fitness center, as well as meeting rooms for larger gatherings. The property also offers complimentary breakfast, a 24/7 market, free Wi-Fi and is pet friendly.
“We are thrilled to welcome Home2 Suites by Hilton Charlotte University Research Park to the Raines portfolio,” Grey Raines, managing partner, Raines, said in a statement. “This deal showcases Raines’ capabilities as multi-faceted partner for hospitality investors. In this instance, we helped identify the asset, underwrite the deal, and assisted with legal services and closing. This project was completed in partnership with a long-time investor, further demonstrating the strength of our relationships and our commitment to treating every owner as more than just a number. We look forward to continuing this partnership and ensuring that this property thrives.”