Atlanta group buys two Westshore hotels in deals totaling $35.7M
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Dec 8, 2014

An Atlanta investment group that specializes in upgrading hotel properties has acquired two in Westshore, in deals that total more than $35 million.

Noble Investment Group paid $21.4 million for the Residence Inn Tampa Westshore, a 160-room hotel at 4312 Boy Scout Blvd., according to a Hillsborough County deed filed Friday. Georgia-based McKibbon Hotel Group, which developed the hotel in 2001, was the seller.

"Noble's strategy is to enhance a 'B' asset in an 'A' location by reconfiguring and upgrading the physical product and optimizing the brand," according to its website.

Noble received a mortgage for more than its purchase price - $23.569 million - from Wells Fargo, according to Hillsborough County property records.

McKibbon also sold TownePlace Suites, at 5302 Avion Park Drive, to Noble for $14.32 million. Wells Fargo provided a $12.56 million mortgage for that transaction.

Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.