Oxford Capital Group, based in Chicago, has acquired the Best Western Bay Harbor in Tampa for $34.5 million. The 261 room six story hotel sits on a 6.69 acre waterfront site at 7700 Courtney Campbell Causeway. It traded for $132,184 per room. The property features a freestanding, single-story restaurant, three bars, an outdoor stage, a wooden pier and boat dock, a heated outdoor pool, and a fitness center. The seller, Equity Management Partners Inc., acquired the hotel for $15.25 million in April 2012, according county property records. CBRE Group in Miami, including Robert Taylor and Lisa Zaranek, represented the seller during the transaction.
“The Best Western Bay Harbor is a stable, well-performing full-service hotel, located in one of the country’s top conference and resort destination markets. It recently benefited from a $4.3 million renovation, but new ownership now has the opportunity to further upgrade, re-brand and inject new management into this beautiful bay front asset,” Taylor, a senior vice president, said in a statement.
