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PO Box 1212 Tampa, FL 33601 Pinellas Updated November 2024
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RETURN TO NEWS INDEX Aloft Tampa Downtown sold in big hotel portfolio deal Liberty Group, based in Tampa, said Friday it has sold off a 500-room portfolio that includes Aloft Tampa Downtown Hotel as well as the following properties:
The six-story Aloft was previously an office building anchored by Mercantile Bank. The $18 million redevelopment of the building commenced in June 2013 and the hotel opened in summer 2014.
Aloft's allotted price within the portfolio was $27.2 million, according to Hillsborough County property records. The buyer was Charlotte-based Pharos Hospitality.
"With the sale of these hotels, we have demonstrated a full-cycle investment process while exceeding return expectations and creating tremendous value to our stakeholders,†Punit Shah, Liberty CEO, said in a statement.
Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal. |
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