OTO Development purchased the whole loan on the Hampton Inn and Suites Ybor City / Tampa. Upon first learning about this opportunity on June 26, 2010 we immediately deployed personnel to Tampa to study the market and evaluate the hotel. OTO underwrote the deal, submitted the winning bid on July 7th and closed on the loan on July 10th, a mere fifteen days from start to closing. OTO has fully taken over ownership and management of the asset, executing a meaningful operational turnaround in a short period of time.
Our team’s extensive knowledge of the hotel industry allows us to quickly and effectively underwrite any U.S. market. When combined with our ample capital resources, OTO Development can close transactions rapidly, thus providing increased investment flexibility and a smooth, stress-free process for the seller.