The SpringHill Suites by Marriott on Howell Boulevard, near the Baton Rouge Metropolitan Airport, has been sold to a Minnesota-based hotel operator for $11 million, according to sales documents.
Oliver Companies, represented by CEO Seth Oliver, bought the property through CFOC Baton Rouge LA LLC from Apple Nine Louisiana LP, a subsidiary of Apple Hospitality REIT Inc., a publicly-traded real estate investment trust.
The 119-room SpringHill Suites by Marriott opened in September 2009 at Howell Place, a mixed-use development by Richard Preis. The hotel opened at a time when North Baton Rouge saw several mid-price hotels developed in the area.
Oliver Companies was founded as a commercial real estate management and investment company in 1978 and operates hotels in eight states, according to its website.
CEO Seth Oliver and CFO Colleen Anderson were unable to be reached before this afternoon’s deadline for more information.