Lodging Partners arranged the sale of the Inn on the Square, a boutique hotel in Greenwood, SC for $4.8 million.
Lodging Partners exclusively represented the seller in this transaction, with the marketing and negotiations led by Ford Barton, principal, Lodging Partners, a member of Hotel Brokers International. The hotel was acquired by an affiliated entity of Edgewater Group LLC, based in Naples, FL. Edgewater, a private equity group with a focus on upscale boutique hotels in secondary and tertiary locations, plans to reposition the hotel to the Ascend Hotel Collection. This is the second hotel that Edgewater has purchased through Lodging Partners.
The boutique hotel features a restaurant, bar and meeting space, and is located in the center of Greenwood shopping and dining district and is close to many corporate demand generators.
“Despite many complexities prior to closing this transaction, we are pleased to have received such strong interest in this asset for our client,” said Barton. “High quality assets continue to be in strong demand throughout the Southeast, and we are grateful for our deep connections to qualified buyers that led to the successful sale of this boutique property.”