Days Inn-turned-Motel 6 in Tampa fetches $5.6M

Clearwater-based hotel brokerage Greene, Canfield, DeGeorge handled the sale

Oct.October 16, 2016 10:00 AM

Clearwater-based hotel brokerage Greene, Canfield, DeGeorge LLC announced the sale of a 100-room Motel 6 in Tampa for $5.6 million.

A Florida-based investment company bought the Motel 6 for $56,000 per room from a veteran hotel owner and longtime client of Greene, Canfield, DeGeorge, founded in 1970.

Following a major renovation, the hotel converted its flag to Motel 6 from Days Inn earlier this year. The limited service hotel is located in Tampa near Interstate 75 and the Florida State Fairgrounds.

A much bigger Tampa hotel also changed hands recently after switching flags.

Last summer Holiday Fenoglio Fowler, L.P. (HFF) arranged the sale of the Hilton Tampa Downtown for an undisclosed price plus the acquisition financing for the 520-room, full-service hotel.

The hotel, built in 1982 on 5.6 acres, underwent extensive renovation when the previous owner converted the property’s brand from Hyatt to Hilton in 2013. The previous owner was a partnership of Driftwood Hospitality Management LLC and H.I.G. Realty Partners, an arm of H.I.G. Capital.

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