Sarasota developer sells Tampa area hotel for $32 million

The 215-room Home 2 Suites Brandon Tampa hotel has been sold to a Massachusetts investor.

The hotel, at 10323 Palm River Road, just off Interstate 75 and Brandon Boulevard, sold for $32.09 million, according to Hillsborough County records. The buyer is AAM15 Management, a private equity real estate investment firm, according to a statement from Berkadia which brokered the deal.

Sarasota-based Floridays Development Co., which county property records show paid $2.3 million for the then-vacant property in 2016, was the previous owner. It completed the hotel March 2018.

The purchase is the fourth Florida hotel property for suburban Boston-based AAM15. The others, according to the firm’s website, are a Homewood Suites & Tru By Hilton in Naples and one Residence Inn by Marriott in Tampa and one in Fort Myers.

With the Brandon purchase, the AAM15’s hospitality portfolio includes 1,952 rooms in 14 properties in six states. It also owns multifamily and commercial assets along the east coast according to its website. Among those holdings are six Kelly’s Roast Beef restaurants in New England.

Berkadia Hotels & Hospitality’s Kyle Sahlsten represented Floridays in the sale.