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Churchwick Partners, Rockledge Close Acquisition of Sonesta Hotel Portfolio
Tuesday 28 June 2022

In conjunction with US-based real estate investment firm Churchwick Partners, US-based real estate investment firm Rockledge have completed acquisition of the Sonesta portfolio, adding another 347 keys across three hotels in three separate states, the firm said.

The assets included Sonesta ES Suites in St Louis, MO, Sonesta ES Suites Minneapolis in Eagan, Minnesota and Simply Suites Detroit Southfield in Southfield, Michigan.

Last month, Churchwick and Rockledge closed on the first portion of the portfolio consisting of 7 Sonesta hotels, which accounted for 1,085 keys across 6 states.

The Churchwick and Rockledge say they look forward to building their pipeline of extended stay hotels throughout the rest of 2022 and beyond.

Churchwick Partners and Rockledge now own a total of 1,519 keys across the US. Please reach out to the contact below if you have a deal you think they would be interested in.

Rockledge is a diversified, privately-owned real estate investment company focused on long-term value creation and repositioning properties in New York City and the surrounding areas.

Currently, the company owns commercial, retail, hospitality and multi-family residential buildings throughout New York and New Jersey.

In September of 2021, Rockledge added hospitality to their acquisitions criteria and have since closed on 10 total hotels with additional properties in contract.

Rockledge is actively seeking additional extended stay opportunities across the country and is looking to close on more than 100 extended stay hotels over the next 24 months.

Churchwick Partners is a tactical real estate investment firm that seeks to deploy capital in opportunities with durable and resilient long-term cash flow.

Their focus includes the acquisition of properties with upside from both long-term rate cap compression and value-added ancillary income generation.
Date Published: 28/06/2022