JLL’s Hotels & Hospitality Group arranges the sale of the Aloft/Element Arundel Mills in Hanover, Maryland
Spark GHC acquires the dual-branded, 289-key hotel
WASHINGTON, D.C., Feb. 8, 2024 – JLL’s Hotels & Hospitality Group announced today that it arranged a sale on behalf of the seller of the dual-branded hotel Aloft/Element Arundel Mills BWI Airport in Hanover, Maryland, to Spark GHC.
The Aloft consists of 142 guestrooms, and Element has 147 guestrooms. Key amenities include an indoor pool, fitness center, 24/7 market, guest laundry and meeting space.
This premium-branded hotel benefits from its strategic location off State Route 100 near the intersection of the Baltimore-Washington Parkway, just 10 miles south of Baltimore and 20 miles north of Washington, D.C. It is four miles from Fort Meade and five miles from the BWI airport.
As shared in JLL’s U.S. Select-Service and Extended-Stay Hotel Outlook, investors continue to gravitate towards the select-service sector due to its broad demand base, lean operating model, and consistent performance.
The JLL Capital Markets Investment Sales team consisted of Managing Directors Ketan Patel and KC Patel and Vice President Phil White.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.