Edgewater Group LLC, a Florida-based real estate investment firm, has acquired a boutique, full-service hotel in Greenwood.
The Inn on the Square adds to Edgewater's diverse portfolio of assets in hospitality, retail, office and residential, an Edgewater news release stated. The property was purchased by 104 Court LLC, a wholly owned subsidiary of Edgewater Valley Forge Fund III LP, an affiliate of Edgewater Group LLC.
Financial details of the transaction were not disclosed.
The acquisition of the Inn supports Edgewater’s continued focus on secondary and tertiary markets like Greenwood and dedication to the communities in which their properties reside, the release stated. Edgewater Group has extensive experience owning and managing historic boutique hotels, including The Coombs Inn & Suites in Apalachicola, Florida, and the recently acquired Windsor Hotel in Americus, Georgia.
“We are thrilled to add the Inn on the Square to the Edgewater Group’s collection of unique assets. At Edgewater, we are continually seeking exceptional properties like The Inn on the Square to support our offerings and expand our footprint,” said Ketan Vora, founding partner of Edgewater Group, in the release. “We plan to extensively upgrade the Inn and the guest experience. The Inn has been serving generations of valued guests and the Edgewater team very much looks forward to joining the community.”
The historic property dates back to 1905 and was originally comprised of two separate adjoining structures, according to the release. Remaining faithful to the early architecture and historical integrity, the Inn on the Square was renovated in October 2015 to preserve its classic style.
Today, the Inn’s amenities include a full-service restaurant, casual bar/lounge and event venues, the release stated. There is also a variety of business services for conferences, meetings, weddings, and special events.
Edgewater was founded in 2008 with a focus on providing distressed advisory services to financial institutions.