Arden Group has bought the InterContinental Tampa in the city’s Westshore business district for $40.2m. The 323-room hotel, which sold for $124,500 per room, is located at 4860 West Kennedy Boulevard. Arden Group plans to spend an additional $7m in renovations to the property. Tampa-based Plasencia Group represented the seller, a joint venture of funds managed by Oaktree Capital Management and Lowe Enterprises.
