Berkadia announced today the sale of Hampton Inn Vero Beach, a 63-roomselect-service hotel in Vero Beach, Florida. Managing Director Michael Weinberg Associate Director Kyle Sahlsten of Berkadia Hotels & Hospitality led the transaction on behalf of the seller, Tampa-based Liberty Group, a privately-owned family office specializing in hotel investment and development.
Hampton Inn Vero Beachsold via the RealINSIGHT Marketplace auction platform to North Carolina-based WeCare Hotels. In the last eighteen months, Berkadia Hotels & Hospitality sold seven hotels throughout Florida: Castle Hotel, Autograph Collection, DoubleTree Deerfield Beach-Boca Raton, Homewood Suites Orlando Airport, Aloft Miami Dadeland, Holiday Inn Express Tampa-Brandon, and Element Miami Airport hotels.
“The sale of the Hampton Inn reflects what kind of transactions are getting done in this choppy capital markets environment: smaller deal size with strong in-place yield,” said Sahlsten“The property’s strategic location at the intersection of I-95 and SR-60, in addition to a planned renovation will allow the Hampton to provide durable cash flow to its new owners,” said Sahlsten.
Located at 9350 19th Lane, the hotel is adjacent to the Vero Beach Outlets and affords convenient access to Interstate 95 and State Road 60. Hampton Inn Vero Beach was built in 1997 and features 63-units with an outdoor pool, fitness center, and business center.
Photos available upon request.
About Berkadia®:
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
To learn more about Berkadia, please visit www.berkadia.com.
