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Real EstateAcquisitionsBlueturn Buys Microtel Inn & Suites in Zephyrhills, Florida

Blueturn Buys Microtel Inn & Suites in Zephyrhills, Florida

TAMPA, Fla. — Nilkanth Hotel LLC sold the Microtel Inn & Suites by Wyndham in Zephyrhills, Florida, to Blueturn LLC for $4 million. DSH Hotel Advisors, a national hotel brokerage and advisory firm headquartered in Tampa that specializes in hotels, announced that Dennis Hopper, managing principal, and Randy Taylor, investment associate, closed the deal on February 28, representing both the buyer and the seller.

“While the hotel appears to be in great condition, the buyers intend to further improve the property in an effort to boost property performance and value,” Hopper said. “The Microtel Inn & Suites is well-positioned within the city of Zephyrhills, a fast-growing suburb of Tampa, and investor demand seems to be at an all-time high for hotel assets in the Tampa Bay MSA. Buyers that are both nationally and internationally based continue to keep a close eye on the Tampa market in hopes of finding hotel investment opportunities—this is widely due to the unique and diverse demand generators coupled with the high level of growth that the area offers.”

 

 


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