McKibbon Equities has closed on the purchase of SpringHill Suites Tampa Westshore Airport, marking the company’s fourth and final acquisition for McKibbon Income Fund I. The $42 million fund was fully deployed in less than two years from its initial close.
Located in Tampa’s Westshore Business District, the all-suites, pet-friendly hotel offers 149 guestrooms and more than 1,800 sq. ft. of flexible meeting space. Amenities include an outdoor pool and hot tub, fitness center, complimentary daily breakfast, onsite parking and airport shuttle service. Its prime location provides access to Tampa International Airport, Raymond James Stadium, International Plaza and Downtown Tampa.
“SpringHill Suites Tampa Westshore Airport is located in one of Tampa Bay’s most dynamic business hubs, with more than 12 million sq. ft. of office space and incredible access to key demand drivers,” said Matthew Ram, McKibbon’s SVP, acquisitions. “We believe this acquisition complements our existing portfolio extremely well, and we will continue to pursue additional expansion opportunities in the Tampa Bay region.”
The property will be operated by McKibbon Hospitality, the company’s hotel management arm, bringing McKibbon’s portfolio to 94 managed hotels nationwide. It is McKibbon’s 14th managed hotel in the greater Tampa Bay area and fifth managed property in the Westshore District, where McKibbon is also headquartered.
Synovus Bank provided debt financing for the transaction, while the seller was represented by Bryce Cherko of Cherko Fusco Realty.
