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Norwalk's HEI Pays $68,323 per Room for Hilton Orlando/Altamonte Springs

ORLANDO-The Connecticut-based developer and its joint venture partner, Prudential Real Estate Investors Inc., purchased the 20-year-old, 322-room suburban Orlando hotel from Southern States Management Co. for $22 million.

By Alex Finkelstein | Updated on September 08, 2002

ORLANDO-HEI Hospitality of Norwalk, CT has added the 20-year-old, 322-room Hilton Orlando/Altamonte Springs to its ownership/investment portfolio, buying the eight-story suburban Orlando asset from Duluth, GA-based Southern States Management Co. for $22 million or $68,323 per room.

Prudential Real Estate Investors of Newark, NJ is HEI’s joint venture partner in the deal. Representatives of buyer and seller couldn’t be reached at GlobeSt.com’s publication deadline to learn the hotel’s occupancy and average daily room rate.

But Florida hospitality industry estimators tell GlobeSt.com on condition of anonymity the business traveler-oriented hotel at 350 S. North Lake Blvd., Altamonte Springs, FL is at the 75%-occupancy level.

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