ORLANDO—Central Florida's hotel market is picking up steam. The $12.1 million sale of the Lodge at Gainesville, 208-room, select-service, independent hotel near the University of Florida in Gainesville, is the latest example.

HFF's hotel group, led by senior managing director Daniel C. Peek, director Michael Weinberg and real estate analysts Anthony Frogameni and Preston Reid, marketed the property on behalf of the seller. CrossHarbor Capital Partners purchased the offering free and clear of debt. GF Management will continue to manage the hotel.

“We expected strong interest in the asset but the quality of the buyer pool exceeded our own expectations,” Weinberg tells GlobeSt.com. ““The sales process became extremely competitive prior to buyer selection. Both buyer and seller were very professional and great to work with.”