PRESS RELEASES
EXCEL GROUP FLIPS JACKSONVILLE HOTEL FOR 50% ROI IN SIX MONTHS
JACKSONVILLE, FL – August 30, 2012 — Excel Group announced today that the firm has sold the 61-room Country Inn & Suites in Jacksonville, Florida for $2 million.
The firm had purchased the distressed note on the property just six months ago for $1.5 million, less than half the mortgage, which was $3.7 million. The firm structured the deal, completed the acquisition, foreclosed, took ownership of the property, and completed the sale, all in the last six months.