Clearwater, Florida real estate firm expands hotel portfolio to Mississippi.
TUNICA, MISS. – The owners of TJM Properties of Clearwater, Florida have closed on the purchase of Harrah’s Tunica, a 2,000-acre resort complex in Tunica, Mississippi. Known as the South’s Casino Capital, Tunica is a prominent tourist, gambling and entertainment destination, located on the Mississippi River. The area is home to world class casinos, 6000 hotel rooms, fine dining restaurants, luxury spas and championship golf and tennis facilities. The property was purchased from Caesar’s Entertainment Corporation.
“Plans to sell all or part of the property are underway,” according to Terence J. McCarthy of TJM Properties. The expansive parcel consists of two hotels featuring 600 guestrooms and suites, a 45,000 square foot convention complex, an 800-acre Hunting Lodge, 200-unit RV park and club house, a 10,000 square foot kids’ center, an 18-hole golf course & clubhouse, a large commercial laundry facility, office and warehouse buildings, and hundreds of acres of farm land.
“We have a number of offers for all of the parcels of the property, and several parties expressed interest in purchasing the entire resort,” Mr. McCarthy confirms. “We are finalizing our plans on what we may keep and what we will sell and will be reviewing all these offers in the coming weeks.”
TJM Properties is a privately held Real Estate firm owned and operated by Terence J. McCarthy of St. Petersburg, Florida. The company owns a growing number of hotels in Florida, New Jersey, and Pennsylvania under the Quality Inn, Baymont Inn, Howard Johnson, and Radisson flags. TJM also owns The Claridge Hotel and Atlantic Club in Atlantic City, New Jersey. A leading developer of Senior Living Communities, TJM Properties sold 15 of its 19 Senior Living properties in 2013, comprising of 2500 units, for $220 million.
Photo caption: The Verandah Hotel is one of two 600-room hotels that are part of Harrah’s Tunica, a 2000-acre resort complex in Tunica, Mississippi, purchased by TJM Properties of Clearwater, Florida. (PRNewsFoto/TJM Properties of Clearwater).
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