Franklin Street has acquired an institutional brokerage firm that focuses on hospitality properties in its most significant transaction to date.

Tampa-based Franklin Street now owns Hodges Ward Elliott, which has closed more than $17 billion in transactions in the last five years. HWE will continue to operate under its current name, with leadership based in Atlanta. HWE brokers and staff have joined existing Franklin Street offices in Tampa, Atlanta, Dallas, Nashville, Tennessee, and Orlando. With the acquisition, Franklin Street’s total head count has exceeded 400 employees.

Financial terms of the deal were not disclosed. The acquisition will increase Franklin Street’s revenue and also boost its reputation as it becomes a bigger player in commercial real estate circles across the U.S. Franklin Street, founded by Andrew Wright in Tampa in 2006, is an anomaly in commercial real estate as it has remained an independently owned firm. Commercial real estate, in Tampa Bay and nationwide, is dominated by national firms that have acquired their local competitors in recent years.

HWE closed $1.5 billion in transactions in 2025, including the sales of Planters Inn in Charleston, South Carolina, W London and Residence Inn Tampa Downtown. Of its 2025 transactions, HWE closed half a billion dollars in properties valued under $25 million.

Franklin Street President and COO Tony DeSisto said in a statement that HWE and his firm share similar approaches to culture and collaboration.

“This is an important and significant step as we continue to build a firm that offers exceptional client service and tailored solutions across all asset classes nationwide,” DeSisto said. “HWE’s experience with executing institutional deals will benefit Franklin Street as we expand our reach and market share.”

Bill Hodges, CEO of HWE, said his firm continues to recruit brokers.

“We will continue to execute on institutional-level transactions for the premier brands and investors in hospitality while providing excellent client service and thoughtful solutions to our clients, now across the spectrum of commercial real estate services,” Hodges said in a statement.