Tampa hotel gets $20 million in financing

By Louis Llovio
| 4:00 p.m. June 22, 2023
| 2 Free Articles Remaining!

Linchris Hotel Corp. has owned the Sheraton Tampa Brandon Hotel since 2016.

Tampa Bay-Lakeland

Linchris Hotel Corp., the owners of the Sheraton Tampa Brandon Hotel, have secured $20.07 million in financing for the property.

According to a statement from JLL Capital Markets, the loan was through Ready Capital. Terms were not disclosed nor was the purpose of the financing.

JLL represented Linchris.

The 266-unit hotel at 1022 Princess Palm Ave. is off Interstate 75, a couple of miles east of downtown Tampa and just south of Interstate 4.

Along with standard features like a pool and fitness and business centers, the hotel has a full-service restaurant and bar. It also has 32,175 square feet of meeting space and a 8,133-square-foot ballroom that holds 400.

The hotel was built in 1987 and Linchris bought it in 2016 for $15.84 million, according to county property records.

Linchris is based in Plymouth, Massachusetts, and owns properties in 15 states mostly along the East Coast. The Sheraton is its only Florida property.

author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.