Multi County: American Realty Capital Hospitality pays $77M for six Gulf Coast hotels

BUYER: ARC Hospitality Portfolio I Owner LLC , Jenkintown, Pa.
SELLER: W2007 Equity Inns Realty LLC
PROPERTY: 4811 W. Main St., Tampa
PRICE: $19.62 million
PREVIOUS PRICE: $13 million, October 2000

PROPERTY: 9719 Princess Palm Ave., Tampa
PRICE: $15.03 million
PREVIOUS PRICE: $770,000, March 2004

PROPERTY: 1040 University Parkway, Sarasota
PRICE: $12.35 million
PREVIOUS PRICE: $507,400, June 2005

PROPERTY: 850 University Parkway, Sarasota
PRICE: $10.56 million
PREVIOUS PRICE: $540,000, June 2005

PROPERTY: 2960 Colonial Blvd., Fort Myers
PRICE: $10.45 million
PREVIOUS PRICE: $512,000, June 2005

PROPERTY: 13420 N. Telecom Parkway, Temple Terrace
PRICE: $9.45 million
PREVIOUS PRICE: $438,000, October 2007
LAW FIRM ON DEED: Sullivan & Cromwell LLP, New York City

PLANS, DESCRIPTION:
American Realty Capital Hospitality Trust Inc. purchased six Gulf Coast hotels for $77.45 million.

The trust acquired the Hyatt Place Tampa Airport/Westchase in Tampa for $19.63 million, Residence Inn-Tampa Sabal Park in Tampa for $15.03 million and the Residence Inn-Sarasota Bradenton on University Parkway for $12.35 million. It also purchased the Courtyard Sarasota Bradenton Airport for $10.56 million, Residence Inn Fort Myers for $10.45 million and Residence Inn Tampa North in Temple Terrace for $9.45 million.

The six sales came as part of a 116-hotel Equity Inns Lodging Portfolio that American Realty Capital Hospitality Trust purchased from affiliates of Whitehall Real Estate Funds for $1.8 billion. The portfolio included 13,744 rooms in 31 states, all franchised by Hilton Hotels & Resorts, Marriott International, Hyatt Hotels and InterContinental Hotels Group.