Javier Rabinovich and 2301 Southwest 12 Avenue (Credit: Google Maps)
Privé Group purchased a Hampton Inn near the Fort Lauderdale-Hollywood International Airport for $17.3 million.
North Miami Beach-based Privé Group, led by Javier Rabinovich and Mariano Karner, bought the 109-key hotel at 2301 Southwest 12th Avenue for $157,798 per key, records show. Richmond, Virginia-based Apple Hospitality REIT sold the Hampton Inn Fort Lauderdale Airport North Cruise Port.
Privé secured a $15 million loan from Rialto Mortgage Finance to purchase the hotel, records show.
The hotel totals 54,540 square feet, records show. It was last purchased in 2008 for $12.6 million and was built in 2002.
Privé focuses on the commercial market in South Florida. Its office projects include Forum Aventura, 12-story office condo building at 19790 West Dixie Highway in Ojus; and Aventura Square at 18802-18820 West Dixie Highway in Ojus. The eight-story office condo project has about 100,000 square feet of office space and 9,000 square feet of ground floor retail.
Apple Hospitality is a publicly traded REIT that owns 233 hotels with about 30,000 guest rooms in 87 markets throughout 34 states, according to its website.
The post Privé Group snags hotel near Fort Lauderdale airport for $17M appeared first on The Real Deal Miami.
from The Real Deal Miami & Miami Florida Real Estate & Housing News | & Curbed Miami - All https://therealdeal.com/miami/2020/01/03/prive-group-snags-hotel-near-fort-lauderdale-airport-for-17m/
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