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Hampton Inn Sells Soon After Opening

LAKELAND, FL-The developer of the 117-room hotel near I-4 marketed during construction.

By Carl Cronan | Updated on June 18, 2008

(Carl Cronan is editor of Real EstateFlorida.)

LAKELAND, FL-The new 117-room Hampton Inn & Suites here is under new ownership practically as soon as it has opened, with Greenbelt, MD-based Columbia Hospitality Inc. buying the hotel near Interstate 4 for an undisclosed price. Molinaro Koger Inc. facilitated the sale for Platinum Ridge Florida LLC, the hotel’s developer.

Andy Kern, senior vice president with Molinaro Koger in Washington, DC, says Platinum Ridge made an astute development decision in marketing the asset while it was still under construction. The transaction closed approximately 30 days after the hotel opened, he says.

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