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Places This Week: Group buys Marriott hotels in $113M+ deal

Veronica Brezina

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The AC by Marriott Clearwater Beach hotel. Facebook image.

A weekly roundup of local real estate deals. 

 

Clearwater hotels purchased for over $100 million 

Denver-based Mission Hill Hospitality, a KSL Capital portfolio company that invests in hotels, has purchased the Courtyard by Marriott and the AC Hotel by Marriott Clearwater Beach hotels for a combined $113.7 million. 

Sanibel-based NPCW LLC, controlled by Norwich Partners, sold the 97,777-square-foot AC by Marriott hotel at 395 Coronado Drive in a $58.3 million deal. 

The group sold the 115,313-square-foot Courtyard by Marriott hotel at 455 E. Shore Drive to Mission Hill Hospitality in a $55.4 million transaction. 

The Courtyard by Marriott Clearwater Beach hotel. Facebook image.

The buyer took out a $38.5 million loan from Athene Annuity and Life Company. 

The 145-room AC by Marriott hotel, constructed in 2021, features a fitness center, a pool and the Soiree rooftop bar. The hotel features views of the Gulf of Mexico and Intracoastal Waterway. 

The 139-room Courtyard by Marriott hotel also debuted in 2021 and has waterfront views. 

The buyer’s portfolio of investments includes the SpringHill Suites Navarre Beach hotel, Home 2 Suites by Hilton Jacksonville Airport hotel, the AC Hotel in Durham, North Carolina, and the Aloft Savannah Downtown Historic District hotel, among other properties. 

 

St. Pete apartment complex sells

The Aqua 550 apartment complex at 550 50th Ave. N. in St. Petersburg has sold. 

An out-of-state buyer purchased the 40-unit complex in a $7.25 million deal. 

Avery Johnson, a senior director for multifamily sales at Franklin Street Real Estate, announced the sale via LinkedIn. 

The Aqua 550 apartment complex. GoogleMaps.

The two-story apartment complex, which was built in 1969 and renovated in 2022, has a swimming pool, a dog park and laundry facilities. 

 

Plans filed for a Home 2 Suites hotel 

Palm Harbor-based engineering firm Landon, Moree and Associates has filed stormwater management plans for a new Home 2 Suites by Hilton hotel in Clearwater.

The project site at 4485 Ulmerton Road, Clearwater. Image: Southwest Florida Water Management District documents. 

The plans were filed on behalf of the engineering firm’s client, which is an LLC connected to the Miami-based ownership group of Baywood Hotels. 

The 128-room hotel would be developed at 4485 Ulmerton Road, adjacent to the Clearwater Motorcoaches RV servicing business. 

Plans for the 16,674-square-foot hotel show a parcel for a future restaurant at the site. 

 

Zoie’s restaurant space hits the market 

The Zoie’s restaurant in St. Pete’s Grand Central District, known as an inclusive LGBTQ+ destination, is now on the market.

Owner Jeff Baker permanently closed the restaurant’s doors earlier this week.

Jennifer Malowany and Joe Esposito of KW Commercial are the listing agents for the 3,134-square-foot space and business at 2245 Central Ave., which has an asking price of $649,000. 

Zoie’s at 2245 Central Ave., St. Petersburg. Facebook image. 

According to the Loopnet listing, the sale includes a liquor license and a long-term renewable lease.  

The building was constructed in 1950 and renovated in 2021. 

Zoie’s opened the 200-seat restaurant last year. It had a full bar and featured a stage for drag performances. 

Father and Son’s A/C and Heating business previously occupied the space. 

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