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TAMPA — Bay Cities Bank sold the St. Pete/Clearwater Airport Inn to Sette McCarthy Hotel LLC for $800,000, disposing of a troubled asset through a transaction that closed July 15.
“Bay Cities was able to get a troubled asset off its books, and the buyer, who plans a full renovation on the property, was able to acquire an asset with strong upside potential in a strategic location,” explains Robert O'Leary, a vice president with The Plasencia Group's Sun Hospitality division, which brokered the deal.
The Airport Inn is located at 3655 Hospitality Lane, and contains 120 rooms.
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