Chuck Pomerantz & Key Foster Of Highline Hospitality Acquire Hotel From Naveen Kakarla For $37.3M

The asset involved in this transaction is a hotel located at 950 Lake Carillon Drive in St. Petersburg, built in 2006 and last renovated in 2020 for $1.6 million. The property spans 3.92 acres and consists of 227 rooms, with a sale price of $37,300,000 and a price per key of $164,317.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $37,300,000
• Address: 950 Lake Carillon Drive
• Market: St. Petersburg
• Built: 2006
• Last Renovated: 2020
• Acres: 3.92
• Keys: 227
• Price Per Key: $164,317
• Buyer: Chuck Pomerantz & Key Foster - Highline Hospitality
• Seller: Naveen Kakarla - HHM Hotels

Chuck Pomerantz and Key Foster, representing Highline Hospitality, are the buyers in this transaction, acquiring the property from Naveen Kakarla of HHM Hotels. This acquisition underscores Highline Hospitality's expansion efforts in the hotel market.