Excel Group Acquires Hampton Inn & Suites Coconut Creek and Residence Inn Fort Lauderdale Coconut Creek Hotels
Opened in 2014 and 2019, respectively, the Hampton Inn and Residence Inn both feature 105 guest rooms and over 1,000 square feet of meeting spaces, as well as outdoor pools, fitness centers, and communal amenity areas. Both hotels are strategically located in the vicinity of key demand drivers in Coconut Creek, including two major medical centers, significant corporate and industrial space, leading sports facilities, and other leisure assets, including the Seminole Casino with a 3,000-seat concert and entertainment venue. The Hampton Inn just completed a comprehensive renovation that incorporated all new guestroom and public area furnishings and design.
'We are excited to acquire the Hampton Inn and Residence Inn hotels in Coconut Creek, both of which are high-quality assets within top-performing select-service brands,' said Shoham Amin, Founder and Principal of Excel Group. 'These two transactions reflect the attractive opportunity to acquire hospitality assets in the South Florida market, with its robust tourism, business and healthcare sectors.'
About Excel Group
Founded in 2011, Excel Group is an Arlington, VA-based private equity firm that owns, develops, invests in and asset manages hotels in markets across the U.S. Excel Group is focused on disciplined, cycle-appropriate hotel real estate investments and asset management. For more information, please visit www.excelgp.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
39 minutes ago
- The Hill
Senate approves more than $180 billion in 2026 funding before August recess
The Senate on Friday passed its first tranche of government funding bills for fiscal year 2026 ahead of its upcoming August recess, but Congress is bracing for a potentially messy fight to prevent a shutdown when they return in September. The chamber approved three bills that provide more than $180 billion in discretionary funding for the departments of Veterans Affairs (VA) and Agriculture, the Food and Drug Administration (FDA), military construction, legislative branch operations and rural development. The bills passed in two parts: on an 87-9 vote for military construction, VA, agriculture and FDA funding; and an 81-15 vote for legislative branch funding. The votes cap off days of uncertainty over whether the Senate would be joining the House on a monthlong recess with any of its 12 annual funding bills passed out of the chamber. Sen. John Boozman (R-Ark.), who heads the subcommittee that crafted the full-year VA funding bill, said Friday that he sees the first batch of bills as more of a 'test run.' 'It's just been so long since we've done our appropriations bills. A lot of people just [forgot] the procedures,' he told The Hill, noting that in the previous congressional session senators 'really didn't do bills.' Appropriators say the vote marks the first time since 2018 that the Senate has passed funding legislation before the August recess. 'It's really a matter of just kind of legislating again, and the more we do it, the easier, the easier it'll be as we go back,' Boozman said. In the past week, senators had gone through several iterations of their first funding package of the year, as leaders on both sides worked through frustrations in their ranks over proposed spending levels and actions by the Trump administration that incensed Democrats. Well over half of the funding approved Friday is included in the annual VA and military construction bill, which calls for upwards of $153 billion in discretionary funding for fiscal 2026. That includes about $133 billion for the VA and roughly $20 billion for the Department of Defense military construction program. More than $113 billion in discretionary funding would go toward VA medical care. The annual agricultural funding plan calls for $27 billion in discretionary funding for fiscal 2026. It includes $8.2 billion for the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), about $7 billion in funding for the Food and Drug Administration, roughly $1.7 billion for rental assistance, and nearly $1.23 billion for the Food Safety and Inspection Service (FSIS). Democrats have also highlighted $240 million in funding in the bill for the McGovern-Dole Food for Education program, which was targeted in President Trump's latest budget request. The annual legislative branch funding plan calls for about $7 billion for House and Senate operations, the U.S. Capitol Police and agencies like the Library of Congress (LOC), the Government Accountability Office, the Congressional Research Service (CRS), the Congressional Budget Office (CBO), and the Architect of the Capitol. Capitol Police would see a boost under the plan, along with the CBO, while funding for the LOC, the CRS and the GAO would be kept at fiscal 2025 levels. Lawmakers also agreed to $44.5 million in emergency funds aimed at beefing up security and member protection, citing safety concerns following the shootings of Minnesota lawmakers earlier this year. Republicans had previously been uncertain about whether the third bill would be passed as part of the package this week until Sen. John Kennedy (R-La.), a senior appropriator, said a deal was worked out to allow him to vote on the measure separately from the other bills. Kennedy has criticized the legislative branch funding bill for its proposed spending levels. 'It just doesn't seem appropriate for us to be spending that much extra while everybody else has to take a cut,' he told reporters in late July. 'Now, some of my colleagues point out, yes, but the extra spending is for member security.' 'If you're going to spend extra money on member security, find a pay-for within the bill. I just think the optics are terrible and the policy is terrible,' he said. 'We ought to hold ourselves to the same standard we're holding everybody else, and that's why I'm going to vote no.' Republicans also blame Sen. Chris Van Hollen's (D-Md.) resistance to the Trump administration's relocation plans for the FBI's headquarters for weighing down efforts to pass the annual Justice Department funding bill. Senators had initially expected that bill, which also funds the Commerce Department and science-related agencies, to be part of the package until those plans fell apart earlier this week amid a clash over Trump administration plans to relocate the FBI headquarters. Speaking from the Senate floor on Thursday, Van Hollen, the top Democrat on the subcommittee that crafted the annual funding deal, said he had been pushing for an amendment aimed at ensuring the FBI would 'have a level 5 security headquarters.' He noted his previous attempt during committee consideration that temporarily led to the adoption of an amendment to the DOJ funding bill that sought to block President Trump's plans to keep the FBI's headquarters in Washington, D.C. However, the change was later scrapped after staunch GOP opposition threatened to tank the bill. 'It didn't happen because members of the Senate Appropriations Committee, Republicans and Democrats, didn't think that was the right thing to do – to preserve what we had set out before and make sure that the men and women [of the FBI] have a level 5 security headquarters,' he said. 'We did it because the President of the United States was going to throw a fit if that provision stayed on.' Van Hollen said he hopes the bill will be able to 'get back on track' in September. However, Sen. Jerry Moran (R-Kansas), chair of the subcommittee alongside Van Hollen, offered a rather gloomy outlook for the bill's next steps after recess. He argued much of the focus in September is likely to be on getting a deal on a funding stopgap, also known as a continuing resolution (CR), to keep the government funded beyond the Sept. 30 shutdown deadline. 'When we get back from recess, we'll move to working on the CR to get us so I would guess if the CJS has a path, it's probably just the CR and will continue,' Moran said. 'All the work that we've done goes away, and we'll go back to CR and fund those agencies at the same level and same way that we did last year.' 'Every time we say we want to do appropriation bills, then there's someone who has a reason that, 'Not this time,' 'Not this one,' 'Not – because I didn't get what I want,'' he said. 'And this time we're arguing over an amendment that was allowed to the senator who's objecting, but he wanted a commitment that he get the outcome he wants.' 'And he didn't win in committee, and he wouldn't win on the Senate floor, but he can, I wouldn't think, but he can make his case. But he rejected that option,' he said.
San Francisco Chronicle
39 minutes ago
- San Francisco Chronicle
S.F.'s Philz Coffee to be purchased by private equity firm for $145 million
Los Angeles-based private equity firm Freeman Spogli & Co. has made a bid to acquire popular San Francisco-grown coffee chain Philz coffee. The firm has previously invested in food franchises Popeyes and El Pollo Loco, as well as Petco. The value of the pending transaction is $145 million, according to reports to stakeholders obtained by Mission Local, which first reported the deal on Friday. Jacob Jabor, son of Philz founder Phil Jaber, did not respond to an inquiry from the Chronicle. Freeman Spogli could not immediately be reached for comment Friday. The deal is reportedly expected to close on Aug. 8, and stockholders have until Aug. 5 to receive an appraisal of their shares. Other stakeholders in the deal are investment firms Summit Partners and TPG Growth, according to Mission Local. Meanwhile, the company's common stock holders, including employees, are expected to see their stock canceled under the terms of the agreement, the outlet reported. Phil Jabar went from owning a corner store to a venture capital-backed business raising some $75 million in funding, after launching Philz out a storefront at 24th and Folsom streets storefront in the city's Mission District more than two decades ago. That location popularized the company's distinct one-cup-at-a-time pour-over style, which is executed by baristas working at separate stations.
Yahoo
an hour ago
- Yahoo
Tom Gayner's Strategic Moves: Significant Reduction in 3M Co Holdings
Exploring the Latest 13F Filing for Q2 2025 Tom Gayner (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into his investment moves during this period. Thomas Gayner is Co-Chief Executive Officer of Markel Corporation. He oversees the investing activities for the company, as well as the Markel Ventures diverse industrial and service businesses. Gayner joined Markel in 1990 to form Markel Gayner Asset Management which provided equity investment counsel for Markel Corporation as well as outside to joining Markel, Mr. Gayner served as vice president of Davenport & Co of Virginia and as a Certified Public Accountant with PriceWaterhouseCoopers serves as the Chairman of the Board of the Davis Series Mutual Funds and on the boards of the Colfax Corporation, Graham Holdings, Cable One and Markel. He is a trustee of The Community Foundation of Richmond, Bon Secours Health System, and a member of the Investment Advisory Committee of the Virginia Retirement System. He is a graduate of the University of Virginia and The Lawrenceville School. Gayner outlined in Markel's 2019 Letter to Shareholders a four-part discipline: First, Markel looks for businesses earning good rates of return that use only modest leverage to do so. Second, the firm looks for management teams with equal measure of talent and integrity. Third, Markel looks for businesses with opportunities to reinvest its capital and grow organically or by acquisition, and/or with capital discipline to repurchase shares or pay dividends. And fourth, the firm looks to acquire these holdings at fair prices: The long term returns should be similar to the underlying growth in intrinsic value of the company itself. Summary of New Buy Tom Gayner (Trades, Portfolio) added a total of 3 stocks, among them: The most significant addition was Adobe Inc (NASDAQ:ADBE), with 14,000 shares, accounting for 0.05% of the portfolio and a total value of $5.42 million. The second largest addition to the portfolio was Applied Materials Inc (NASDAQ:AMAT), consisting of 16,500 shares, representing approximately 0.03% of the portfolio, with a total value of $3.02 million. The third largest addition was CSX Corp (NASDAQ:CSX), with 65,000 shares, accounting for 0.02% of the portfolio and a total value of $2.12 million. Key Position Increases Tom Gayner (Trades, Portfolio) also increased stakes in a total of 37 stocks, among them: The most notable increase was Franco-Nevada Corp (NYSE:FNV), with an additional 44,250 shares, bringing the total to 569,500 shares. This adjustment represents a significant 8.42% increase in share count, a 0.06% impact on the current portfolio, with a total value of $93.35 million. The second largest increase was Novo Nordisk AS (NYSE:NVO), with an additional 108,588 shares, bringing the total to 2,258,588. This adjustment represents a significant 5.05% increase in share count, with a total value of $155.89 million. Summary of Sold Out Tom Gayner (Trades, Portfolio) completely exited 1 holding in the second quarter of 2025, as detailed below: Cable One Inc (NYSE:CABO): Tom Gayner (Trades, Portfolio) sold all 11,900 shares, resulting in a -0.03% impact on the portfolio. Key Position Reduces Tom Gayner (Trades, Portfolio) also reduced positions in 6 stocks. The most significant changes include: Reduced 3M Co (NYSE:MMM) by 175,500 shares, resulting in a -59.74% decrease in shares and a -0.23% impact on the portfolio. The stock traded at an average price of $142.98 during the quarter and has returned 5.23% over the past 3 months and 12.97% year-to-date. Reduced Watsco Inc (NYSE:WSO) by 25,331 shares, resulting in a -4.29% reduction in shares and a -0.11% impact on the portfolio. The stock traded at an average price of $464.6 during the quarter and has returned -5.11% over the past 3 months and -6.60% year-to-date. Portfolio Overview At the second quarter of 2025, Tom Gayner (Trades, Portfolio)'s portfolio included 137 stocks, with top holdings including 6.86% in Berkshire Hathaway Inc (NYSE:BRK.A), 6.29% in Berkshire Hathaway Inc (NYSE:BRK.B), 4.56% in Brookfield Corp (NYSE:BN), 4.12% in Alphabet Inc (NASDAQ:GOOG), and 3.77% in Inc (NASDAQ:AMZN). The holdings are mainly concentrated in 9 of the 11 industries: Financial Services, Industrials, Consumer Cyclical, Communication Services, Technology, Consumer Defensive, Basic Materials, Healthcare, and Real Estate. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
