Liberty Group sells six Florida hotels for $60 million

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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.

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