Clearwater-based TJM Properties has closed on the purchase of the Crowne Plaza North-Worthington in Columbus, Ohio. TJM, which shifted its portfolio from senior living facilities to hospitality in 2013, says it will retain the Crowne Plaza flag. The company also announced plans to renovate the 300 key property. The purchase marks the investor’s third major acquisition this year, having previously bought the Crowne Plaza Syracuse in downtown Syracuse, N.Y. in May and Harrah’s Tunica, a 2,000-acre resort complex in Tunica, Mississippi. TJM’s Properties business model is to buy and hold hotel properties, fix them up when necessary and replace or enhance the management staff. Terms of the sale were not disclosed.
