Avistone Acquires Hotel Indigo Sarasota From Peachtree Hotel Group In Sarasota Deal

The Hotel Indigo Sarasota is a 95-room hotel located in Sarasota at 1223 Boulevard of the Arts. The property features 64 king bedrooms, 19 double queen rooms, and 12 king suites. It also includes amenities such as an onsite dining area and meeting and conference facilities. The hotel is situated three miles from the Sarasota Bradenton International Airport.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: Not Disclosed
• Seller's Rep: Preston Reid(Berkadia)
• Buyer: Avistone
• Seller: Peachtree Hotel Group
• Brokers: Michael Weinberg, Wyatt Krapf
• Financing: Access Point Financial
• Lender: Access Point Financial

Berkadia Hotels & Hospitality played a significant role in the transaction, representing both the seller, Peachtree Hotel Group, and securing acquisition financing on behalf of the buyer, Avistone. The lender in this deal was Access Point Financial, which provided a three-year adjustable-rate loan for the acquisition. Additionally, the new owner intends to renovate and rebrand the hotel into one of IHG’s upscale lifestyle brands.