Tampa, Fla.–The Plasencia Group, a privately-owned hospitality investment advisory firm, this week announced the sale of the 229-room Embassy Suites Philadelphia Valley Forge, located in Wayne, Pennsylvania. The firm represented Valley Forge Investment Corporation, a private firm based in the Philadelphia area, in the sale of the all-suite hotel. Cape Carolyn, LLC, an Irving, Texas-based family office acquired the asset.
The Plasencia Group’s Chief Executive Officer Lou Plasencia and Vice Presidents Nick Plasencia and Chris Plasencia advised the seller in this disposition. “Under the stewardship of the previous owner, the Embassy Suites boasted an excellent operational track record. This institutional-caliber asset is poised to continue to be successful in its irreplaceable location within the Chesterbrook business park, at the doorstep of the international headquarters of several Fortune 500 companies,” comments Plasencia.
“Upon the upcoming renovation of guestrooms and public areas, the Embassy Suites has the potential to dominate the broader market for years to come,” adds Plasencia. “The purchaser took advantage of a rare opportunity to acquire an established and ideally-located Hilton-branded hotel teeming with potential.”
In addition to the sale and pending renovation, the Embassy Suites by Hilton Philadelphia Valley Forge is now being managed by Crescent Hotels & Resorts.
The Embassy Suites is located in the Philadelphia area’s largest suburban office district, at King of Prussia’s Highway 202 corporate corridor. Weekday demand from an abundance of nearby corporations is complemented by weekend business emanating from leisure attractions such as the Valley Forge National Historic Park, the King of Prussia Mall, and youth sports facilities.