Jaimin Patel Of Sonari Capital Partners Acquires Hotel In Tampa For $23.5M

The transaction involved the sale of a hotel asset, specifically the Home2 Suites by Hilton, which comprises 106 keys and was built in 2017. The hotel is located at 11606 McKinley Drive in Tampa, FL. The sale was completed for an amount of $23,500,000, translating to a price per key of $221,698.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $23,500,000
• Address: 11606 Mckinley Drive
• Market: Tampa, FL
• Keys: 106
• Buyer: Jaimin Patel - Sonari Capital Partners
• Lender: Live Oak Banking Co.

A Sonari Capital Partners affiliate made this acquisition from a group of investors who had owned the hotel since 2018. The acquisition was financed through an $18.75 million loan provided by Live Oak Banking Co., reflecting the finance partner's role in facilitating the purchase.