Liberty Group announced today that it has completed the $60-million sale of six hotels throughout Florida. Tampa-based Liberty Group acquired and/or developed these properties from lenders and special servicers between 2010-2014 and repositioned the hotels through capital improvements and managerial efficiencies created through its affiliated hotel management company Liberty Hospitality Management.
The $60-million portfolio comprised of 500 guestrooms was sold to various private and institutional buyers and included:
- Aloft by Starwood –Tampa Downtown
- Holiday Inn Express by IHG – Tampa/Busch Gardens
- Holiday Inn Express by IHG – Tampa/USF Telecom Park
- Holiday Inn Express by IHG – Venice
- Candlewood Suites by IHG – Fort Myers
- Best Western Plus – Bradenton
In 2015 alone, Liberty Group completed more than $160 million in transactions including the sale of seven hotels and two senior-living facilities, the acquisition of seven hotels and the refinancing of several hotels within its portfolio. The largest hotel within the portfolio, the Aloft in downtown Tampa, sold for $30 million (or $231,000 per room) and was developed by Liberty Group last year as an adaptive reuse of a former office building.