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| Holiday Inn Express & Suites Tampa-USF-Busch Gardens |
ORLANDO,
FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces
the sale, acquisition financing and joint venture equity placement for the
Holiday Inn Express & Suites Tampa-USF-Busch Gardens, a 123-room select-service hotel in Tampa, Florida.
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| Michael Weinberg |
Additionally, the HFF team worked on behalf of the new owner to arrange a joint venture equity partnership with TriGate Capital, LLC, in addition to a five-year, fixed-rate acquisition loan with a local bank. HFF brokered the sale of this hotel to the seller in 2015.
Completed in
2008, the all-suite, non-smoking hotel was designed as a Florida Green
Lodging choice and has a silver designation.
Holiday Inn Express & Suites Tampa-USF-Busch Gardens
features a heated outdoor pool, fitness center, business center, complimentary
breakfast and internet service and 725 square feet of meeting space.
Located at 2807 East Busch Boulevard, the four-story hotel
is just off Interstate 275, adjacent to Busch Gardens and about five miles from
downtown Tampa.
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| Rebecca VanReken |
Additionally, the hotel is proximate to other area demand drivers, including Adventure Island, University of South Florida, Florida Hospital Tampa, Shriners Hospital for Children, Moffitt Cancer Center and James Haley Veterans Hospital.
The HFF investment
advisory, equity and debt placement teams included senior managing director Michael
Weinberg, managing director Rebecca VanReken, senior director Pete
Fehlman and director Preston Reid.
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| Pete Fehlman |
Waramaug utilizes its wealth of resources to create a track record in successfully rebranding, repositioning and renovating assets to reach their full potential and become market leaders.
The company’s portfolio includes flagged and independent full service hotels and resorts, as well as select service hotels under premium brands.
TCOR is a hotel
acquisition platform designed to drive value and create superior returns to its
investors. The focus of TCOR is on opportunities that provide immediate yield
at deal execution, upside operational/management reposition, value to
replacement cost and post-acquisition capital improvements and repositioning
opportunities for yield benefit.
TriGate Capital,
LLC (“TriGate”) is a market leading real estate private equity firm focused on
recapitalizing and repositioning real estate assets and companies. TriGate: i)
acquires real estate assets that are in need of capital or management focus;
ii) provides capital for the recapitalization of commercial real estate assets
and companies; iii) acquires non-performing commercial real estate loans; and
iv) capitalizes platforms with quality operators that are focused on a specific
investment strategy.
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| Preston Reid |
CONTACTS:
MICHAEL WEINBERG
FL Lic. # SL3133790
HFF Senior Managing Director
(407) 745-3900
REBECCA VANREKEN
HFF Managing Director
(407) 745-3900
PETE FEHLMAN
HFF Senior Director
(214) 265-0880
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
