(Crystal Proenza is associate editor of Real EstateFlorida.)

SARASOTA, FL-Columbus, OH-based RockBridge Capital LLC hasinvested $14.2 million in the development of a 114-room Hyatt Placeat 960 University Parkway. Chris Diffley, vice president of thefirm's investment group, says the first mortgage provides 80% ofthe capitalization of the project being developed by Naples-basedWhite's Lodging. Construction costs for the hotel are $9.5 million,with a total project cost of approximately $15 million, accordingto Tom White, co-founder of White's Lodging.

RockBridge decided to invest for three reasons, Diffley tellsGlobeSt.com, including the historical strength of the Sarasotamarket. "Above that, the hotel development site has an excellentlocation directly across from the main entrance to SarasotaInternational Airport and is in close proximity to the beaches,with convenient access to Downtown for business travelers aswell."