Square Mile Capital Management and Davidson Hotel Company have jointly acquired the Sheraton Suites Tampa Airport/Westshore in Florida from Host Realty Partnership for an undisclosed sum. The property will undergo close to $14 million (€9 million) in renovations to begin in 2009.
The 259-room hotel, located in the Westshore submarket of Florida—one of the state’s largest office submarkets—is also close to Tampa International Airport and area attractions as Busch Gardens, Adventure Island, Steinbrenner Field – the NY Yankees Spring Training complex – and Raymond James Stadium, home of the Tampa Bay Buccaneers and the 2009 Super Bowl.
A landscaped, tropical atrium is located on the complex, which also includes an indoor pool, fitness center, business center and 8,100 square feet of meeting space.
The property will be managed by Memphis, Tennessee-based Davidson, which will also coordinate the property’s renovation program.
Square Mile Capital Management is a privately managed institutional investment fund founded in mid-2006, with offices in Greenwich, Connecticut and New York City. It currently manages approximately $1 billion on behalf of institutional and high net worth investors.