Hotel brokerage firm Kabani Hotel Group arranged the sale of two hotel properties totaling 176 keys, located in Florida City, FL. The assets were sold for an undisclosed amount.
Ahmed Kabani and Suraj Dalal, investment specialists, Kabani Hotel Group, arranged the sale on behalf of both the seller Dayabhai Patel, a private investor, and the buyer, out-of-state institutional investor.
The two properties—Home2 Suites and Tru by Hilton—are well-positioned as the first hotels off the Florida Turnpike when exiting and passing through South Dixie Highway to the Florida Keys. The Home2 Suites is a five-story, 96-room hotel featuring interior corridors and modern amenities for both business and leisure travelers. The six-story Tru by Hilton has 80 rooms.
“Closing transactions for larger assets has become increasingly difficult in the current capital market environment,” said Dalal. “Nevertheless, we managed to engage an institutional buyer and secure the deal under exceptionally favorable terms.”
Kabani added, “Florida City, in particular, has experienced remarkable growth in recent years. We are enthusiastic about the buyer’s plans to renovate the asset and are confident they will succeed in this market.”
