The Staybridge Suites in Wilmington recently changed hands for more than $13 million and is set to be renovated in the near future.

Hunter Hotel Advisors represented TriGate Capital, based in Dallas, and Beacon Investment Management Group in the sale of the 92-room hotel Staybridge Suites at 5010 New Centre Drive in Wilmington, according to a news release from the Atlanta-based hospitality brokerage firm.

Lodging Opportunity Fund, a Fargo, North Dakota-based REIT, purchased the hotel. LOF-REIT is a private, non-traded REIT that aims to provide steady income and build investor wealth through investments in hospitality real estate, the release stated. 

LOF2 Wilmington LLC  paid $13.66 million on April 27 for the property, according to New Hanover County tax records.

Beacon IMG, in Charlotte, will continue to manage the hotel, according to the release.

David Perrin, vice president at Atlanta-headquartered Hunter Hotel Advisors, said Thursday that the hotel is expected to be renovated in the next 12 to 18 months.

“The Staybridge Suites is well-positioned within the booming Wilmington market, a dynamic area that continues to attract strong corporate investment alongside a thriving tourism market,” Perrin, who handled the sale, said in the release.