Hotel near Busch Gardens Tampa Bay sold to Dallas investors
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Sep 14, 2018

A limited-service hotel near Busch Gardens Tampa Bay and the University of South Florida has a new owner.

Holiday Inn Express & Suites Tampa-USF-Busch Gardens was sold to Dallas-based TCOR Hotel Partners for $6.3 million, according to Hillsborough County property records.

TCOR is led by Thomas Corcoran Jr., former CEO of FelCor Lodging Trust.

A team from HFF - senior managing director Michael Weinberg, managing director Rebecca VanReken, senior director Pete Fehlman and director Preston Reid - represented Waramaug Hospitality in the transaction. HFF also arranged a joint venture equity partnership with TriGate Capital LLC, in addition to a five-year, fixed-rate acquisition bank loan.

HFF was involved in the transaction when Waramaug bought the property in 2015.

The sales price breaks down to $52,219 per key. Built in 2008, the hotel is just off Interstate 275 and adjacent to Busch Gardens.