Massachusetts-based private equity firm AAM 15 Management has dropped roughly $32.1 million on the Home2 Suites by Hilton in Brandon, expanding its Florida hotel holdings and tightening its grip on the Tampa Bay lodging market.
According to CoStar, AAM 15 Management, identified as a private equity fund, paid about $32.1 million for the extended-stay property, which works out to roughly $256,785 per key. Industry coverage notes this is the company's third hotel acquisition in Florida.
Deal Details
The Home2 Suites Brandon Tampa, built in 2018, offers extended-stay suites, an outdoor pool, digital key access and complimentary breakfast, according to Hotel Management. The property has 125 guest rooms, per Hilton, and sits at 10323 Palm River Road, just off I-75 near Westfield Brandon.
Buyer And Seller
AAM 15 Management, led by CEO David R. Masse and based in Burlington, Massachusetts, has been adding select, brand-affiliated hotels to its portfolio. With the Brandon purchase, the firm's holdings now total roughly 14 properties and about 1,952 keys, according to Hotel Business.
Berkadia arranged the sale on behalf of seller Floridays Development Company, which includes the Brandon Home2 Suites on its completed projects list, per Floridays Development Company.
Why Tampa?
Local brokers say the deal underscores steady investor appetite for well-located extended-stay assets in Tampa Bay, a market that leans on a mix of healthcare, conventions and leisure travel. "There is still a deep market for high-quality assets with an in-place yield," Berkadia's Kyle Sahlsten told Hotel Business, pointing to the region's diversified demand drivers.
Industry coverage indicates the transaction closed on February 12 and was facilitated by Berkadia Hotels & Hospitality, according to Hotel Management. The hotel will continue operating under the Home2 Suites flag while AAM 15 Management evaluates the asset, per its brand listing on Hilton.
