WAYNE, PA—Synergy Hospitality has assumed management of Hampton Inn by Hilton Philadelphia International Airport following the recapitalization of the hotel by Versant Commercial Brokerage, Inc. The tenant-in-common (TIC) investors opted to replace their former hotel manager with Synergy Hospitality.
The hotel is located 1.5 miles from the Philadelphia International Airport, 20 minutes from Downtown Philadelphia and two miles from the Philadelphia Sports Complex. It offers 152 guestrooms and more than 1,200 sq. ft. of meeting and event space.
Versant, which recapitalized the hotel in 180 days, assisted the TIC investors by initiating the new financing, purchasing the TIC interests of those who needed to exit the investment, and utilizing Internal Revenue Code Section 721 to roll up the TIC structure into an LLC on a tax-deferred basis.
The tenant-in-common investors also opted to replace their former asset manager and sponsor, and selected Clear Vista Management and Virtua Partners, respectively.