Construction on the nearly 500,000-square-foot expansion of the gaming facilities is expected to be completed in 2020. The first portion of the of the expansion is expected to open sometime this summer.

HFF represented the seller and worked with the buyer in the transaction to secure the acquisition financing from New York Life Insurance Co. Loan proceeds were used to acquire the property and provides additional capital for an upcoming building renovation, HFF reports.

Many investors are focusing on properties in secondary markets and alternative asset types, according to a new CBRE report.

Construction is scheduled to begin in April on the community to be built near the intersection of Rosery Road and Clearwater Largo Road.