Flacks Group, a Miami-based investment firm managing over $4 billion in assets, has successfully acquired the 180-room Crowne Plaza North Augusta, located in North Augusta, GA. This prime hotel is situated along the scenic banks of the Savannah River and is conveniently positioned approximately eight miles from the prestigious Augusta National Golf Club, renowned for hosting The Masters Tournament.
The Crowne Plaza, which opened its doors in 2019, enjoys a prime location next to the Augusta GreenJackets’ minor league baseball park and the ever-growing Riverside Village community. The hotel boasts a range of meeting facilities and diverse dining options, including the Salt + Marrow steakhouse and Jackson’s Bluff rooftop bar, allowing guests to indulge in both leisure and business activities.
In a statement, Michael Flacks, chairman/CEO/founder of Flacks Group, expressed enthusiasm regarding the acquisition:
“We saw a compelling opportunity with the Crowne Plaza North Augusta, a full-service luxury hotel in a prime location within one of America’s most celebrated tourist destinations. The hotel’s close proximity to the Augusta National Golf Club and the unrivaled Riverside Village location makes it an ideal asset for our real estate portfolio.”
Flacks Group was represented by Hodges Ward Elliott in the transaction and received strategic guidance from Blue Lotus Ventures. The financial backing for this acquisition was provided by J.P. Morgan, ensuring a robust funding structure for the investment.
The Flacks Group’s acquisition of the Crowne Plaza North Augusta marks a significant addition to their real estate portfolio, aligning with their strategy to invest in high-potential assets within key markets.
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