$257K Per Key for a Home2 Suites in Tampa. Check Your Basis.
A PE fund just paid $32.1 million for a 125-key Home2 Suites in the Tampa market, putting the per-key price at $257K for a select-service extended-stay built in 2018. That number tells a very specific story about where cap rates are heading and who's getting priced out of the acquisition market.