William J. Yung III Of Columbia Sussex Corporation Acquires Sirata Beach Resort From Conrad Suszynski For $207M

The transaction involved the Sirata Beach Resort, a hotel located at 5300 Gulf Boulevard in St. Pete Beach, covering 13 acres. The sale was finalized for a total of $207,000,000. The property offers multiple pools, a significant amount of event space totaling 30,000 square feet, and has undergone a $15 million renovation. With a total of 382 keys, the price per key stands at $541,885.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $207,000,000
• Address: 5300 Gulf Boulevard
• Market: St. Pete Beach
• Asset Size: 13 acres
• Buyer: William J. Yung III - Columbia Sussex Corporation
• Seller: Conrad Suszynski - Crescent Real Estate Group
• Lender: Huntington National Bank
• Keys: 382
• PPK: $541,885

William J. Yung III, representing Columbia Sussex Corporation, led the acquisition of the Sirata Beach Resort from Conrad Suszynski of Crescent Real Estate Group. The financing for this deal included a loan amounting to $22.8 million from Huntington National Bank, underscoring the financial backing for this significant transaction.