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The property borders Nebraska.
But CEO warns spending is starting to slow.
The duo is planning to modernize the building.
The building was transformed from an office space.
Plus, there's a preferred equity investment worth $43 million.
South Florida and Tampa Bay are its biggest focuses.
It features 893,000 square feet of space.
The 234-room hotel comes with 25 suites.
The property spans more than 515,000 gross square feet.
Some support is coming from existing investor Mirasol Capital