Tampa hotel gets $20 million in financing

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.