TAMPA, FL — February 4, 2022 — Berkadia Hotels & Hospitality announced today sale of the Holiday Inn Express Brandon, a 119-room hotel in Tampa, Florida. Managing Directors Michael Weinberg, Preston Reid and Kyle Stevenson and Senior Director Wyatt Krapf of Berkadia Hotels & Hospitality completed the $16 million sale on behalf of the seller, Spring Bay Property Company. The deal closed January 11.
“Spring Bay Property Company did a phenomenal renovation on the building which made the asset very desirable to buyers,” said Weinberg. “We were able to source a strategic buyer who was located regionally and had a strong relationship with IHG in an off-market scenario.”
“The Holiday Inn Express Brandon is a strong addition to our growing portfolio. Berkadia’s professionalism, collective experience and responsive communication throughout the course of the transaction made for a smooth transition, which enables us to make a positive impact at the hotel from day-one. And that’s always our goal,” said Azim Saju, Chief Executive Officer and President of HDG Hotels.
Located at 510 Grand Regency Blvd off I-75, the hotel is nearby to the Tampa Bay Convention Center, Busch Gardens, Hard Rock Casino, and Brandon Ice Sports Forum. Hotel amenities include outdoor heated pool, fitness center and guest self-laundry facilities.
Berkadia Hotels & Hospitality combines best-in-industry innovation, knowledge and experience with the most comprehensive suite of products and services, backed by relentless customer service and support to empower clients to capitalize on the right opportunities at the greatest value. The group serves clients across the country, offering a full set of advisory, investment sales, underwriting and loan origination services and products including Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.