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West Palm Beach, FL, United States, 2007/05/15 - The Lodge at Sandhills, investment fund’s most recent purchase.
RESITrust announced today the acquisition by its Chelsea Hospitality Division of The Lodge at Sandhills, a 40 room boutique hotel.
Ideally situated adjacent to a private golf club the hotel is in pristine condition and will soon be excepting its first pre-booked guests. “The Lodge is an ideal purchase for Chelsea Hospitality Group,” says Director of Hospitality Ron Halder “with the combined resources of Suite Carolina and Manchester we have the vendors, reservation systems and renovation crews ready to improve this already fantastic property.”
The Lodge includes a full size pool, restaurant and lounge. Pinehurst is the golf capital of the United States. A large vacation destination the city is home to the U.S. Women's Open Championship as well as 43 distinct golf courses within a 15 mile radius. The Village of Pinehurst, located in an area known as "the Sandhills" in Moore County, is in south central North Carolina about 60 miles southwest of Raleigh, the State capitol, and about 75 miles east of Charlotte.
“The Lodge presents the same opportunity that we have been able to take advantage of in previous acquisitions. We acquired this property at a significant discount, will perform minor renovations and manage it to its full potential. This is the basic formula that has served Chelsea so well in the past.” says CEO Dan Kiely.
ResiTrust Incorporated is a domestic U.S. real estate fund exclusively for non-U.S. investors. It currently owns and operates properties in Florida, Tennessee and North Carolina.
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