Fort Mill, SC (February, 2018) – MPV Properties (MPV) is pleased to announce that Siddhi Hotel Group, headquartered in Greenville, SC, has purchased an approximate 3.62-acre site in Fort Mill, SC. Located across the road from Carowinds and adjacent to Cracker Barrel, Siddhi Hotel Group plans to develop a TownePlace Suites by Marriott on the property with approximately 120 suites.
The property was previously owned by Lakemont Property Investors, LLC, who acquired the land as part of their purchase of the final phase of Lakemont Business Park in 2012. Kamal Rama, managing director of Siddhi Hotel Group states, “the hotel will be an investment of $15 million to Lakemont Business Park in Fort Mill, and will generate 180 jobs during the construction phase alone. There is new supply coming to the area, but due to location and brand affiliation, we will be very competitive in the Fort Mill market.” Site work on the hotel is expected to begin in the fall.
Bailey W. Patrick, a managing partner at MPV Properties and principal of Lakemont Property Investors, and Bailey W. Patrick Jr. of MPV represented the Seller. Mike Chatham of MPV represented Siddhi Hotel Group in the transaction.
About TownePlace Suites by Marriott
TownePlace Suites by Marriott offers spacious suites with full kitchens, outdoor grills, a complimentary hot breakfast, mobile check-in and free Wi-Fi throughout the property. For more information, visit towneplacesuites.marriott.com.
About MPV Properties
MPV Properties is one of the Charlotte area’s leading commercial real estate firms offering office, industrial, retail and land brokerage, development, and property management services. For more information, visit www.mpvre.com.