PRESS RELEASES
EXCEL GROUP EXECUTES A THREE-WEEK FLIP ON FLORIDA HOTEL FOR 40% ROI
TAVARES, FL – July 31, 2013 — Excel Group announced today that the firm has sold the 70-room Best Western Tavares Florida for $2.925 million just three weeks after purchasing the note for $2.1 million from the commercial bank lender while the hotel was in bankruptcy.
The total acquisition transaction timeframe was 10 days from contract execution to closing, despite this being a very complex bankruptcy with multiple secured and unsecured creditors.
With its in-house litigation and real estate capabilities, Excel Group had the authorization for both legal and financial structuring decision making, enabling them to expedite the bankruptcy process and structure a deal, then a sale with 40% ROI and $825,000 in upside in under one month.