Peachtree Group Unveils Fifth Hotel DST in Tampa

Peachtree Group has launched its fifth hotel DST, acquiring the 128-key Residence Inn Tampa Wesley Chapel and seeking to raise $34 million from accredited investors for tax-deferred 1031 exchanges.

September 25, 2024

Peachtree Group, a real estate investment firm with a $6.4 billion portfolio, has launched its fifth hotel property as a Delaware statutory trust (DST) following the acquisition of the 128-key Residence Inn Tampa Wesley Chapel, located in Pasco County, near Tampa, Florida. The new offering, PG Wesley Chapel DST, aims to raise $34 million from accredited investors seeking to complete a tax-deferred 1031 exchange and invest in the hotel sector.

The Residence Inn is located in the rapidly growing Wiregrass Ranch community, benefiting from proximity to the Wiregrass Ranch Sports Campus, which attracts both business and leisure travelers. The property was appraised at nearly $900,000 above the purchase price, enhancing its investment value.

Peachtree's portfolio of DST hotel acquisitions, which includes properties in Atlanta, Phoenix, and Jackson, Tennessee, now totals over $150 million in debt-free transactions. The firm’s strategy focuses on acquiring well-known hotel brands in high-growth markets, targeting value-add opportunities managed by experienced teams.

Peachtree continues to capitalize on long-term growth trends in the hospitality sector, driven by the rise of experiential travel, the work-from-anywhere culture, and increased demand for extended stays. Since launching its DST program in 2022, Peachtree has raised $39.4 million in equity year-to-date and remains an active player in the commercial real estate investment space.