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
Brandon Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
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