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CLEARWATER, FL-Tampa-based Gentile Group LLC has taken the deed to an 11-property portfolio for $26.85 million as part of its acquisition of the Wyndham Organization.

The properties, with a total of 487,790 sf, are located in Pinellas County. Financing for the acquisition was provided by BB&T and its commercial loan department by Mary McLewain and supported by Joann Capraro.

The Wyndham Organization Inc. will continue to operate as a diversified real estate investment company involved in the development, acquisition and management of commercial real estate. Michael L. Gentile will serve as chairman of the Wyndham Organization and Michael B. Gentile will serve as president and CEO. Jennifer Gentile-Guardiani will serve as senior vice president of marketing and communications and corporate secretary.

Michael B. Gentile tells GlobeSt.com that the portfolio consists of five office buildings, two warehouse properties and one apartment building. The Gentile Group will evaluate the properties purchased and identify those that will be placed on the market for sale. Assets that are not sold will serve as the foundation of the foundation of a new portfolio and will be used as leverage for expansion.

The company will expand by acquiring new office and retail properties and forming joint ventures with institutional investment partners to develop new projects. The Gentile Group will continue to occupy the office space currently used by the Wyndham Organization with plans to move to Tampa in the near future.

“We plan to enter into joint ventures with both private investment and institutional partners to restructure and expand the company,” he says. “We plan to develop office and some mixed-use.”

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