SpringHill Suites Tampa Brandon, Tampa, FL | Sold by Berkadia 2024

March 19, 2024

Berkadia Negotiates Hotel Sale in Tampa, Florida

Build in 2008, SpringHill Suites Tampa Brandon is a 6-story hotel located in the growing Brandon lodging submarket

Tampa, Fla. – March 19, 2024 – Berkadia announced today the sale of the SpringHill Suites Tampa Brandon, a 103-key hotel in Tampa, Florida. Managing Director Michael Weinberg and Associate Director Kyle Sahlsten of Berkadia Orlando and Tampa led the transaction on behalf of the seller, Florida-based Impact Properties. Founded in 1981, the investment group has an extensive track record spanning over 40 years in Florida, specializing in the development of hotels, restaurants, and medical offices. The company has invested over $300 million in its property acquisitions and development activity, with several projects earning national recognition.

SpringHill Suites Tampa Brandon sold to a joint venture between Florida-based Sonari Capital Partners and Ark Development on March 8. The buyer plans to complete a comprehensive renovation of the asset positioning the hotel for future upside.

“The sale of the SpringHill Suites Tampa Brandon confirms there is still a strong market for cash-flowing assets with tangible value-add opportunities,” said Weinberg. “This is our second sale in the submarket in recent years with a third underway. Property fundamentals and investor demand remain strong in this submarket due to the diversity of demand generators and proximity to Tampa’s thriving Downtown.”

Located at 1051 S Falkenburg Road, the hotel sits within a 5-mile radius of I-4, I-75, U.S. Highway 301, Adamo Drive, and the Selmon Expressway. These five major thoroughfares see a combined 426,000+ average annual daily travelers. SpringHill Suites Tampa Brandon was built in 2008 and features 103 suites with guestroom kitchenettes, complimentary breakfast, a fitness center, and more. The Brandon lodging submarket hosts a diverse array of lodging demand anchored by transient corporate and leisure, healthcare, and amateur sports demand.

Berkadia negotiates sale of Tampa SpringHill Suites | Hotel Business

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