Bobby Julien Of Kolter Group Acquires Hilton St. Petersburg Bayfront From Stephen Zsigray For $67.2M

The asset involved in this transaction is the Hilton St. Petersburg Bayfront, located at 333 1st Street Southeast in the St. Petersburg market. The hotel, which is 60 years old, was acquired by the Kolter Group from Ashford Hospitality for $67.2 million. The total cash outlay, including furniture, fixtures, and equipment (FF&E), amounted to $96 million.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $67,200,000
• Buyer: Bobby Julien - Kolter Group
• Seller: Stephen Zsigray - Ashford Hospitality

Bobby Julien represents the Kolter Group in the acquisition, which may involve holding the property while evaluating renovation or conversion options. This purchase allows Kolter Group to extend its hospitality and multifamily portfolio in the Tampa Bay area, which includes projects such as One St. Petersburg, Art House, and Hyde Park House.