The Arden Group buys InterContinental Tampa Hotel

BUYER: AREPII ICT LLC (52.43% interest), A7PP ICT LLC (40.29%) and AOFI ICT LLC (7.28%), Philadelphia
SELLER: LH Tampa Holding LLC, Tampa
PROPERTY: 4860 W. Kennedy Blvd., Tampa
PRICE: $40.2 million
PREVIOUS PRICE: $41.13 million, March 2006
LAW FIRM ON DEED: Paul Hastings LLP, Los Angeles

PLANS, DESCRIPTION:
Three entities related to Philadelphia's The Arden Group Inc. purchased the 323-room InterContinental Tampa Hotel in Westshore for $40.2 million.

The price equated to $124,458 per room.