When Cherry Cove decided it was time to invest in the South Florida market, the Maryland-based real estate company turned to McDonald Hopkins.
John Metzger, a managing member in the law firm's West Palm Beach office, was up to the task. Metzger and associate Alexa Guevara helped the out-of-state investment management group zero in on its first Florida acquisition.
Cherry Cove, which owns and manages hotel, office and storage properties, entered the West Palm Beach market with a $7.4 million buy. On Dec. 20, the firm purchased the Stay Inn West Palm Beach, a hotel northeast of Palm Beach International Airport, as well as an adjacent freestanding IHOP restaurant.