A Marriott hotel in Boca Raton has sold for $57.7 million, delivering a tidy profit to the investor who acquired the property a decade ago.
New York-based Carey Watermark Investors Inc., a hospitality real estate investment trust, paid a 79 percent premium on the 2004 price paid for the 256-room hotel at 5150 Town Center Circle. Metropolitan Life Insurance Co. of New York provided a $41 million mortgage in the latest transaction.
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