August 28, 2019
IP Capital Partners, along with an institutional capital partner, has acquired the Grand Hyatt Tampa Bay and Bayport Plaza for an undisclosed price. The 444-key hotel and the 265,976-square-foot office property are located along Tampa Bay, near Tampa International Airport.
The Grand Hyatt Tampa Bay features nearly 33,000 square feet of meeting space, three food and beverage outlets, two tennis courts, an outdoor resort-style swimming pool and a 24-hour fitness center. Bayport Plaza features a tenant roster that includes a number of Fortune 500 and global companies.
Preston Reid, Wyatt Krapf and Hermen Rodriguez of JLL represented the undisclosed seller in the transaction. Additionally, Chris Drew and Maxx Carney of JLL secured acquisition financing for IP Capital.
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