New York City investor buys two Sarasota hotels

\BUYER: Excel Sarasota 1 LLC (principal: Shoham Amin), New York City
SELLER: THI JV Sarasota SHGI LLC
PROPERTY: 8270 N. Tamiami Trail, Sarasota
PRICE: $10.8 million
PREVIOUS PRICE: $11 million, August 2005

BUYER: Excel Sarasota 2 LLC (principal: Shoham Amin), New York City
SELLER: THI IV Sarasota Shi LLC
PROPERTY: 5995 Cattleridge Blvd., Sarasota
PRICE: $9 million
PREVIOUS PRICE: $10.9 million, August 2005
LAW FIRM ON DEED: Hogan Lovells US LLP, Washington, D.C.

PLANS, DESCRIPTION: Affiliated companies led by Shoham Amin of New York City purchased two Sarasota Hilton Worldwide brand hotels for a total of $19.8 million.

One of his entities, Excel Sarasota 1 LLC, purchased the 115-room Hilton Garden Inn near the Sarasota-Bradenton International Airport for $10.8 million, equal to $93,913 per room. The second company, Excel Sarasota 2 LLC, purchased the 121-room Hampton Inn-I-75 Bee Ridge for $9 million, equal to $74,380 per room.

Thayer Lodging Group previously owned both of the hotels.

Built in 2001, the 71,328-square-foot, four-story Hilton Garden Inn features a fitness center, swimming pool and restaurant. It occupies a 5.21-acre parcel north of the University of South Florida campus.

The 61,850-square-foot Hampton Inn was originally built in 1996 and renovated in 2004. The five-story hotel contains conference and laundry facilities and occupies a 4.11-acre site.

Amin's companies mortgaged the hotels to Jefferies Loancore LLC for two loans, for a total of $17.5 million.