Mariott branded property attracted national investor interest
TAMPA, Florida —
Hodges Ward Elliott, the premier boutique hotel real estate capital markets advisor and a part of Franklin Street’s national platform, announced it has brokered the sale of the Four Points Westshore by Sheraton Suites in Tampa’s Westshore district. The eight-story hotel offers 263 suites, 12,464 square feet of meeting space, an indoor pool, an expansive fitness center, and the St. James Restaurant, and is located at 4400 W Cypress Street. Franklin Street represented real estate investor Ben Mallah in the deal.
“Mariott branded assets with strong in-place yield continue to receive national investor interest,” Preston Reid, executive managing director, Hodges Ward Elliott, said. “Tampa is a sought-after destination and with the potential of the Rays stadium and continued development of Westshore, investors were looking for a long-term hold opportunity to capitalize on what the district is expected to bring in the coming years.”
Ownership completed a multi-million-dollar, full-scale renovation prior to closing. The transaction represents the first Tampa based closing for Hodges Ward Elliott since joining Franklin Street earlier this year. This is the seventh hotel transaction that Reid has worked on with Mallah in recent years.
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About Hodges Ward Elliott
HWE is the premier hospitality focused real estate capital markets advisor. With 50 years of excellence in real estate, HWE is committed to delivering exceptional results for its clients. The HWE team comprises the most forward-thinking, experienced professionals in the commercial hospitality real estate industry today and has earned its reputation through intelligence, a collaborative spirit, and a culture dedicated to putting its clients’ interests first. Learn more about HWE.
About Franklin Street
Franklin Street is a fully integrated, national commercial real estate services firm headquartered in Tampa, Florida. We combine thoughtful planning with decisive action to deliver winning results to clients nationwide. Franklin Street’s seven lines of business include Capital Advisory, Insurance, Investment Sales, Property Management, Project Management and Tenant and Landlord Representation. Founded in 2006, Franklin Street has a network of industry-leading brokers and capital partners across the country to ensure exceptional client service. Learn more about Franklin Street.
