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510 Grand Regency BLVD, Bra...

Berkadia Brokers $16M Hotel Sale On Grand Regency BLVD In Brandon
SOLDHotel

Berkadia Brokers $16M Hotel Sale On Grand Regency BLVD In Brandon

510 Grand Regency BLVD, Brandon, F...

$16,000,000

Building Size

Asset Type

Hotel

Closing

Nov 20, 2023

AI

The Holiday Inn Express Brandon, a 119-room hotel property in Brandon, has been sold for $16 million. Situated at 510 Grand Regency Blvd. off Interstate 75, the hotel boasts amenities such as an outdoor heated pool, fitness center, and self-service laundry facilities. Its location near the Tampa Bay Convention Center, Busch Gardens, Hard Rock Casino, and Brandon Ice Sports Forum enhances its appeal.

Summary of transation details:

  • Property Type: Hotel
  • Transaction Amount: $16,000,000.00
  • Address: 510 Grand Regency Blvd, Brandon, FL
  • Market: Brandon

Berkadia Hotels & Hospitality orchestrated the sale of the Holiday Inn Express Brandon on behalf of the seller, New Jersey-based Spring Bay Property Co. The team behind this deal included Michael Weinberg, Preston Reid, Kyle Stevenson, and Wyatt Krapf from Berkadia Hotels & Hospitality. The buyer's identity, however, remains undisclosed.

Players

Wyatt Krapf

JLL

Broker

$312.7M

vol

14 deals

Broker

Brandon Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.99%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93