Real estate investment firm TPG Hotels & Resorts, a subsidiary of Procaccianti Cos. of Rhode Island has purchased The Postcard Inn on St. Pete Beach property for $47.4 million reports The Tampa Business Journal.
The 196-room property on Gulf Boulevard was sold by The Carlyle Group, which purchased the property in 2015 for $32.5 million.
“With its irreplaceable beachfront location, the Postcard Inn is a wonderful addition to our national portfolio,” said Rob Leven, chief investment officer for Procaccianti Cos., in a statement on the firm’s website.
Clearly, Hurricane Irma has not slowed any investment in Tampa Bay. We continue to see more and more investment in what Tampa Bay has to offer for the hospitality and tourism industry. Entrepreneurs are poised to invest in our growing community.
We continue to monitor the growth and investment in the communities we are involved in. Mega is proud to be a part of a vibrant evolving economic ecosystem. We look to the influencers and community leaders for inspiration and excitement in Tampa Bay’s growth.
Mega seeks to help keep you informed, aware and engaged in the growing world around you. Our relationship to those in our community is our priority and seeing success, change and subsequent growth is amazing because your success is our success, is the community’s success.