The Hotel Indigo Sarasota, a 95-room hotel located at 1223 Boulevard of the Arts in Sarasota, was recently sold by the seller, Peachtree Hotel Group. The property features 64 king-bedrooms, 19 double queen rooms, and 12 king suites. Amenities include an onsite dining area and meeting and conference facilities. Additionally, the hotel is located three miles from Sarasota Bradenton International Airport.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: Not disclosed
• Market: Sarasota
• Borrower's Rep: Wyatt Krapf (Berkadia)
• Lender: Access Point Financial Inc

As part of the transaction, a three-year adjustable-rate loan was secured by Michael Weinberg and Wyatt Krapf of Berkadia Hotels & Hospitality on behalf of the borrower, Avistone. The loan provided by Access Point Financial will be used by the new owner to renovate the hotel and transform it into one of IHG's new upscale lifestyle brands.