Orange Station Boutique Hotel Development Opportunity, Downtown St. Petersburg, Florida

Property Information

Address: 1300 1st Avenue North, St. Petersburg, Florida 33705
Year Opened: TBD (development opportunity)
Guestrooms:
140 to 160 rooms

THE PLASENCIA GROUP, as exclusive advisor to ownership, is pleased to present for your investment consideration a premier lodging development opportunity at Orange Station, the newest mixed-use community in Downtown St. Petersburg’s emerging Edge District. The hotel development offering encompasses an approximately 11,500-square-foot “pad-ready” site fronting 13th Street North and Central Avenue on the northeast corner of the Orange Station mixed-use development, a multi-phase project scheduled to include luxury residential condominiums, a small component of workforce rental apartments, innovative office space, and exclusive retail/dining outlets surrounding a European-style pedestrian plaza. The Orange Station project represents the opportunity to acquire an exceptionally located parcel, entitled for an upper-upscale boutique hotel and rooftop amenity deck, which is to be pad-ready with utilities stubbed to the site at the time of conveyance.

Investment Highlights:

  • High-Barrier-to-Entry Submarket with Limited Full-Service Guestroom Inventory
  • Development Parcel Located in an IRS-Designated Qualified Opportunity Zone
  • Unrivaled Walkability Along Downtown St. Petersburg’s Prominent Central Avenue
  • Beneficiary of St. Petersburg’s Economic Renaissance and Population Influx
  • One Block From the Tampa Bay Rays’ Home Stadium, Tropicana Field
  • Local and Experienced Master Development Team
  • Mixed-Use Development Engineered to Maximize Synergies Among Product Types
  • Unencumbered by Brand and Management, Offering Maximum Development Flexibility
  • Ideal Development Timing, Allowing for a 2024 Opening
  • Proximity to TripAdvisor’s 2021 #1 Ranked St. Pete Beach and the Rapidly Expanding Tampa International Airport

Property Overview:

Chief Executive Officer

Lou Plasencia

Tampa, Florida | Industry Tenure: 39 Years

Lou Plasencia is The Plasencia Group’s entrepreneurial leader, an affable host, and a gregarious family man with an ironclad commitment to the hospitality industry. As the firm’s Chairman and CEO, Lou is responsible for business development activities and the oversight of all acquisitions, dispositions, and consulting engagements. He began his career with Hyatt Hotels Corporation over thirty years ago. After his departure from Hyatt, Lou spent a number of years in hospitality investment sales with a major national commercial real estate firm.

A natural trailblazer, the father of three eventually grew weary of the corporate environment and decided in 1993 to launch his own firm – The Plasencia Group, a boutique alternative to corporate hotel brokerage. The close-knit firm was born out of passion and sheer gumption. The oldest of three siblings, Lou arrived in Tampa’s Ybor City as a young Cuban immigrant, living with his family in a one-room apartment. He is the son of cigar factory worker who he says instilled in him the importance of “committing yourself to one thing and doing it better than anyone else.”

As an undergrad at Loyola University in New Orleans, he studied psychology and broadcast media before going on to get his Master’s in Education from Indiana University. After a brief stint in as a Student Affairs administrator at St. Joseph’s University in Philadelphia, Lou landed a job in Hyatt’s sales and marketing department in New Orleans. He eventually returned to Tampa to oversee the development of the Grand Hyatt Hotel on the shores of Tampa Bay and from there, launched a long and storied career in hotel investment sales and consulting.

During his three-plus decades as the face of The Plasencia Group, Lou has steered a plethora of heavy-hitting hospitality deals, including one-off transactions and major portfolio disposition engagements. Over the years, he has brought together owners and investors for the InterContinental Hotels in Chicago and Miami, the Four Seasons in Atlanta, Amelia Island Plantation in Northeast Florida, and the Arizona Biltmore in Phoenix. Recognized for his integrity and deal savvy, he has served as a trusted advisor for MetLife Real Estate Investments, InterContinental Hotels & Resorts, Brookfield Asset Management, and Walton Street Capital. Other transaction and consulting clients include AEW Capital Partners, Bank of America, Blackstone Group, PGIM, and countless high-net-worth hotel and resort owners.

Lou is an active member of the Hospitality Investment Roundtable of the AHLA. He serves on the Boards of Directors of the Florida Council of 100, the Hillsborough County Tourist Development Council, the Advisory Board for Visit Tampa Bay, and chairs the School Advisory Council of St. Lawrence Parish in Tampa. He previously served on the Board of Trustees of Jesuit High School (Tampa).

A longtime resident of Tampa, he is proud to work alongside his three sons (Chris, Nick and John) in the family business. Lou has been married for nearly four decades to his wife Jennifer, with whom he enjoys cooking, traveling and playing “off the grid.” If he doesn’t answer his cell phone, it’s because he’s out fishing or hiking a forest.

“One of my favorite words in my native Spanish is “confianza”. It’s the close trust that builds in a friendship over time. It’s the very real affection we have for our longstanding clients. It’s also something we work hard to earn and, most importantly, it lasts a lifetime.”

Phone:(813) 932-1234

Email:lplasencia@tpghotels.com

Senior Managing Director

C.A. Anderson

McLean, VA | Industry Tenure: 40 Years

C.A. Anderson is more than just a veteran of hotel real estate. He’s one of the masters. His resume reads like an industry guidebook, thick with 40 years of experience and billions of dollars in transactions, including the development of 17 luxury resorts.

C.A. joined The Plasencia Group in July 2018 after serving as Senior Vice President of Global Development & Real Estate at BridgeStreet Hospitality. A straight-shooting, problem-solving tour-de-force, C.A. was tapped to head up The Plasencia Group’s Mid-Atlantic office in Washington, D.C. –– home to some of the firm’s heaviest hitting clients and partners. Over the course of the next five years, C.A. plans to hire and lead a team dedicated to managing client projects along the eastern seaboard.

The son of a military attaché, C.A. grew up with a strong sense of pragmatism and nomadism. Born in Paris, France, he spent the early part of his childhood living in Europe and Eurasia before finally settling in California, where he graduated pre-law from San Diego State University and went on to study finance and law at the University of San Diego.

The father-of-two built his career bouncing between senior executive positions with myriad hotel conglomerates across the country, including Barings Real Estate Advisers, Red Lion Hotels, Choice Hotels International, Interstate Hotels & Resorts and Japan Airlines, for which he managed more than $500 million in assets for Hotel Nikko and over-saw the development of a $250-million resort in Oahu, Hawaii.

He says he earned his industry cred by seeing the light at the end of murky real estate tunnels.

“It doesn’t matter if you want to buy, unload or fix broken real estate. It’s about finding a solution,” C.A. says. “Everyone has a pain point or a hurdle to overcome. If you can’t figure out how to overcome it by yourself, you have to seek outside guidance. That’s what I do. I identify a problem and help people fix it.”

The D.C. resident is an unapologetic straight-arrow who describes himself as “vanilla with a 1960s hairstyle.” He’s dedicated to his wife, golf and taking sensible vacations. A regular guest speaker at The Americas Lodging Investment Summit (ALIS) conference, he also lectures at New York and Cornell Universities. He holds the designation Certified Hotel Administrator from the American Hotel & Lodging Educational Institute, and played his most memorable 18 holes three decades ago on a course outside of Tokyo.

“It doesn’t matter if you want to buy, unload or fix broken real estate. It’s about finding a solution. Everyone has a pain point or a hurdle to overcome. If you can’t figure out how to overcome it by yourself, you have to seek outside guidance. That’s what I do. I identify a problem and help people fix it.”

Phone:(860) 573-7744

Email:ca.anderson@tpghotels.com

Senior Financial Analyst

Andrew Pappas

Tampa, Florida | Industry Tenure: 4 Years

Andrew Pappas, a Tampa Bay area native, joined the Plasencia Group in August 2019 after spending nearly two years as a research analyst in the industrial and retail sectors for the real estate behemoth CBRE, while simultaneously earning his masters degree in Real Estate Finance at Georgetown University. He finds that working for the more boutique Plascencia Group puts him “in the trenches,” closer to the dealmaking, than his tenure at CBRE, where he mostly did broad market research and issued quarterly reports. “It’s definitely an engaging environment here,” he says, “and it’s more professionally satisfying to know that my work directly affects client engagements.”

Andrew supports The Plasencia Group’s lodging transaction and advisory engagements through financial modeling and value and feasibility analysis. He digs deep into troves of data to evaluate hotel and resort financial performance. But he’s not just a numbers cruncher. Andrew is essential to the development of investment marketing materials, providing memoranda and other supporting content that make properties — from premium-branded select service hotels to independent resort complexes — attractive to potential buyers. He continuously hones his skills by working alongside team members with decades of experience across the industry.

Andrew grew up in Clearwater, the son of a real estate attorney. In high school and college, Andrew worked part-time in his father’s law office. Pursuing an interest in real estate, he earned a finance degree from University of South Florida and a Masters in Real Estate Finance at Georgetown University, which combined two of his passions to create a rewarding career.

Andrew is steeped in the heritage of his Greek ethnicity. His mother grew up in Athens and his paternal grandfather owned a Greek bakery in Cleveland, Ohio. He weight trains regularly and plays ice hockey, drums and guitar with friends.

“It’s definitely an engaging environment here and it’s professionally satisfying to know that my work directly affects client engagements.”

Phone:(813) 445-4842

Email:apappas@tpghotels.com