The Sonesta Fort Lauderdale has been sold for $65 million to a Massachusetts-based real estate investment trust.
June 05, 2014 at 02:00 PM
1 minute read
A Massachusetts real estate investment trust with expansion plans paid a 300 percent premium to acquire the Sonesta Fort Lauderdale for $65 million.
Hospitality Properties Trust completed its purchase of the 240-room resort last Friday with seller Insite Development Group for the 141,832-square-foot former B Ocean resort at 999 N. Fort Lauderdale Beach Blvd.
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