Lauderdale by the Sea, FL, September 07, 2013 --(PR.com
)-- Premier Hotel Realty announced today that it closed the sale of Captain’s Quarters, a 27 room hotel located directly on the sand in Lauderdale by the Sea, Florida for $7.3m.
Premier Hotel Realty marketed the property on behalf of the sellers, A & M Resorts, LLC. The purchaser of the property was a foreign investment group that recognized the potential of South Florida’s hospitality market and the unique character of the property and its location. The hotel was offered unencumbered by any brand or management agreement. Further terms were not disclosed.
Captain’s Quarters is situated on the east side of El Mar Drive, directly on the Atlantic Ocean in the charming town of Lauderdale by the Sea. Constructed as two properties, joined together to operate as one hotel, the property features a pool with deck and tropical landscaping leading to the beach and ocean.
Premier Hotel Realty’s agents working on the sale were Rick Tobin and Dan Tedesco.
Broker, Rick Tobin said, "The sale of Captain’s Quarters demonstrates the continued strength and desirability of South Florida as one of the world’s most highly sought after hotel markets. This is a great example of a buyer recognizing the ability to rehabilitate a property that has an incredible location and the potential to create significant value."
Premier Hotel Realty, lead by broker Rick Tobin, is based in Fort Lauderdale, Florida and globally markets a wide variety of commercial properties. For more information contact Premier at info@PremierHotelRealty.com or call 954-892-5580.