SOLD
NexGen Hotel Acquires Holiday Inn St. Petersburg West In $18.75M Deal
1200 34th Street North - The Holiday Inn
Hotel
Sold 163 days ago
Summary
Sale
FLORIDA
Hotel
NexGen Hotel, based in Schaumburg, Illinois, has purchased the 129-room Holiday Inn St. Petersburg West in Florida for $18.75 million. The hotel is located at 1200 34th Street North and is known for its amenities including an outdoor heated pool, fitness center, and full-service restaurant. The property was sold on November 28, 2023, in the St. Petersburg market.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $18,750,000
- Address: 1200 34th Street North - The Holiday Inn
- Market: St. Petersburg
Chris Patel from NexGen Hotel represented the buyer in this transaction. The financing for the purchase was provided by OptimumBank for a total amount of $12,915,000. Genuine Hospitality Group of St. Louis will manage the hotel post-acquisition.
Players
All
1
Lenders
1
Details
SOLD
IMAGE: Chris Patel
DATE: 11/28/2023
ADDRESS: 1200 34th Street North - The Holiday Inn
MARKET: St. Petersburg
ASSET TYPE: Hotel
BUYER: NexGen Hotel - Chris Patel
LENDER: OptimumBank (@Optimum_Bank)
SALE PRICE: $18,750,000
KEYS: 129 ~ PPK: $145,349
NOTE: NexGen Hotel, based in Schaumburg, Illinois, has purchased the 129-room Holiday Inn St. Petersburg West in Florida for $18.75 million, securing $12.915 million in financing from Optimum Bank. Genuine Hospitality Group of St. Louis will manage the hotel, known for its amenities including an outdoor heated pool, fitness center, and full-service restaurant.View on map
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Address1200 34th Street North - The Holiday Inn
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