TJM Properties, based in Clearwater, Florida, recently closed on the purchase of Harrah’s Tunica in Mississippi from Caesars Entertainment. The 2,000-acre resort complex includes two hotels with 600 guestrooms and suites, a 45,000 square foot convention complex, an 800-acre Hunting Lodge, a 200-unit RV park and club house, a 10,000 square foot children’s center, an 18-hole golf course and clubhouse, a large commercial laundry facility, office and warehouse buildings and hundreds of acres of farm land.
Terence J. McCarthy, owner of TJM Properties said, “Plans to sell all or part of the property are underway. We have a number of offers for all of the parcels of the property, and several parties expressed interest in purchasing the entire resort. 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.”
The privately held TJM Properties owns hotels in Florida, New Jersey and Pennsylvania under the Quality Inn, Baymont Inn, Howard Johnson and Radisson brands, as well as 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 for $220 million.
