Spring Bay Property Company has sold the 119-room Holiday Inn Express Brandon in Tampa, Fla., to HDG Hotels for $16 million.
Berkadia Hotels & Hospitality Managing Directors Michael Weinberg, Preston Reid and Kyle Stevenson and Senior Director Wyatt Krapf completed the transaction on behalf of the seller.
“Spring Bay Property Company did a phenomenal renovation on the building which made the asset very desirable to buyers,” Weinberg said in a statement. “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, CEO and president of HDG Hotels.
The hotel is close to the Tampa Bay Convention Center, Busch Gardens, Hard Rock Casino, and Brandon Ice Sports Forum. The property has an outdoor heated pool, a fitness center and guest self-laundry facilities.