Lew Capital Group acquires Clearwater Clarion Inn & Suites for $8m
Published at: 2016-04-15 15:27 | Author: CIJ USA
California-based Lew Capital Group has spent $8 million to acquire the Clarion Inn & Suites in Clearwater. The 140-room hospitality property located at 20967 U.S. 19 traded for $57,143 per key. Marcus & Millichap represented the seller, Purewater Hotel Group of New Jersey, which picked up the asset in 2008 for $6.6 million. “This was an opportunity to acquire a renovated hotel near Busch Gardens and Adventure Island with 6,000 square feet of meeting space. The hotel’s location on Highway 19 supports transient guests from nearby I-275 and the connecting I-75,” says Ahmed Kabani, a vice president investments in Marcus & Millichap’s Miami office. Kabani also stated that multiple offers for the hotel had come in from across the country.

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