Nikesh Shah Of Southern Hospitality Management Acquires Hotel From Al Patel For $19.65M
5302 Avion Park Drive
$19,650,000
Building Size
—
Asset Type
Hotel
Closing
Sep 10, 2026
About this deal
AI
The property involved in the transaction is a 121-room TownePlace Suites by Marriott located at 5302 Avion Park Drive in Tampa, Florida. The extended-stay hotel, constructed in 2008, encompasses amenities such as suites equipped with kitchens and work areas, as well as a pool, fitness center, and laundry facilities. The transaction was completed for a total price of $19,650,000, which breaks down to $162,397 per room.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $19,650,000
- Buyer: Nikesh Shah - Southern Hospitality Management and Co
- Seller: Al Patel - Baywood Hotels
- Number of Keys: 121
- Price Per Key: $162,397
In this transaction, Nikesh Shah represented Southern Hospitality Management and Co., while Al Patel represented Baywood Hotels, facilitating the acquisition of the hotel property near Tampa International Airport.
On the Map
$19,650,000
Hotel
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Players
Tampa Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93