CHARLESTON, S.C. (WCBD) – A luxury hotel in the heart of downtown Charleston’s historic district has a new owner.
Beemok Capital, the family office of Charleston businessman and philanthropist Benjamin Navarro, announced Friday it has acquired Charleston Place Hotel.
The hotel space also houses Charleston Grill and The Palmetto Café, along with shops like Louis Vuitton, Gucci, Sperry and more.
The group says it plans to make a “significant investment in revitalizing the iconic property” and will begin property improvements within the next eighteen months.
“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,” said Navarro. “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.”
Beemok Capital said is now positioned to play a greater role in the Charleston community and tourism industry.
Charleston Place will be a flagship for Beemok Hospitality Group, which invests in premier hotel, restaurant and entertainment assets. Beemok has also taken control of the renamed Credit One Bank Stadium and LTP Tennis Center on Daniel Island.
Financial terms of the transaction were not provided.