Courtyard by Marriott in Winston-Salem, North Carolina
WINSTON-SALEM, NC – Virtua Partners has purchased the Courtyard by Marriott in downtown Winston-Salem, North Carolina. The 126-room hotel is currently under construction and will open in Q1 2020.
The hotel is among the first hospitality projects in the country to be built as an Opportunity Zone development. Virtua Partners plans to optimize the location's potential for significant tax breaks through the program.
Located at 640 W 4th Street in the downtown neighborhood, the Courtyard by Marriott will offer features and amenities including a full-service bistro, swimming pools, a fitness center, a courtyard, a rooftop bar with panoramic views and more than 1,500 square feet of meeting and banquet space.
Virtua Partners and Hotel Equities joined in a strategic partnership last year to expand their current hospitality portfolios with new developments and acquisitions. Together, the firms aim to identify opportunities to provide equity and debt solutions.
Hotel Equities is providing development services for the Courtyard by Marriott's construction process, through completion. The firm will additionally manage the hotel upon opening.
Winston-Salem acts as a college town, medical hub and business hub, as the home to Wake Forest University and numerous corporate headquarters, including BB&T.
Virtua Partners is a private equity firm that specializes in commercial real estate investment services such as debt and equity origination, asset and property management, workout consulting, development management and fund management.
Hotel Equities, based in Atlanta, is a full-scale ownership, management and development firm which operates more than 140 hotels throughout the US and Canada.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
