Mckibbon Equities Acquires Springhill Suites Tampa Westshore Airport
McKibbon Equities has closed on the purchase of SpringHill Suites Tampa Westshore Airport, marking the company's fourth and final acquisition for McKibbon Income Fund I. The $42 million fund was fully deployed in less than two years from its initial close.
Located on W. Cypress Street in Tampa's Westshore Business District, the all-suites, pet-friendly hotel offers 149 guestrooms and more than 1,800 square feet of flexible meeting space. Guests enjoy thoughtful amenities including an outdoor pool and hot tub, fitness center, complimentary daily breakfast, onsite parking, and airport shuttle service. Its prime location provides convenient access to Tampa International Airport, Raymond James Stadium, International Plaza, and Downtown Tampa.
"SpringHill Suites Tampa Westshore Airport is located in one of Tampa Bay's most dynamic business hubs, with more than 12 million square feet of office space and incredible access to key demand drivers," said Matthew Ram, McKibbon's Senior Vice President of Acquisitions. "We believe this acquisition complements our existing portfolio extremely well, and we will continue to pursue additional expansion opportunities in the Tampa Bay region."
The property will be operated by McKibbon Hospitality, the company's hotel management arm, bringing McKibbon's portfolio to 94 managed hotels nationwide. It is McKibbon's 14th managed hotel in the greater Tampa Bay area and 5th managed property in the Westshore District, where McKibbon is also headquartered.
Synovus Bank provided debt financing for the transaction, while the seller was represented by Bryce Cherko of Cherko Fusco Realty.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
