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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Beemok Capital Completes Acquisition of Charleston Place

October 1, 2021 GMT

CHARLESTON, S.C.--(BUSINESS WIRE)--Oct 1, 2021--

Beemok Capital, the family office of Charleston businessman and philanthropist Benjamin Navarro, today announced it has completed its acquisition of Charleston Place Hotel (“Charleston Place”). Financial terms of the transaction were not disclosed.

The acquisition of Charleston Place is consistent with Beemok Capital’s strategy to support further revitalization of Charleston, ensuring the city is an exceptional place to live, work and play. With Charleston Place, Beemok Capital is positioned to play a greater role in the Charleston community and tourism industry. Charleston Place is the flagship asset of Beemok Hospitality Group, a vertical of Beemok Capital that invests in premier hotel, restaurant and entertainment assets. Beemok will make a significant investment in revitalizing the iconic property and plans to begin property improvements within the next eighteen months.

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Benjamin Navarro stated, “We’re thrilled to officially complete the acquisition of Charleston Place, a landmark property that resonates in the hearts and minds of our local Charleston community and visitors alike. We intend to deploy significant investments at the property, while also honoring its unique heritage and overall identity that has solidified Charleston Place as one of the most iconic hotels in the Southeast.”

Casey Lavin, President of Beemok Hospitality Group, stated, “We are honored to be part of the next chapter for Charleston Place and revitalize this historical property. On behalf of our entire team, I look forward to working closely with the team at Charleston Place and welcome them to the Beemok family.”

Beemok Hospitality Group’s other current assets include an investment in Hotel Domestique, a luxury hotel along the base of the picturesque Blue Ridge Mountains, and control of the Credit One Bank Stadium and LTP Tennis Center in Charleston, a state-of-the-art tennis and entertainment facility and host of the WTA 500 Credit One Charleston Open (formerly, the Volvo Car Open).

About Beemok Hospitality Group

Beemok Hospitality Group is a Charleston-based company that seeks out world class hotel, restaurant and entertainment investment opportunities throughout the Southeast. We are committed to serving the communities in which we operate and believe our people, culture and values are our core differentiator. For more information, please visit www.beemokhospitality.com.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20211001005687/en/

CONTACT: Media Contact

Sard Verbinnen & Co.

Beemok-SVC@SARDVERB.com

(212) 687-8080

KEYWORD: SOUTH CAROLINA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES COMMERCIAL BUILDING & REAL ESTATE LODGING FINANCE CONSTRUCTION & PROPERTY URBAN PLANNING TRAVEL

SOURCE: Beemok Capital

Copyright Business Wire 2021.

PUB: 10/01/2021 04:00 PM/DISC: 10/01/2021 04:02 PM

http://www.businesswire.com/news/home/20211001005687/en