Marriott’s Residence Inn Boca Raton changed hands in a $12 million deal between seller Les Res Boca Raton LLC and BRE Newton Hotels Property Owner LLC, according to a deed recorded Tuesday in Palm Beach County.
The new owner is a limited liability company formed by Blackstone Group’s real estate managing director Glenn Alba in New York. Blackstone, one of the nation’s largest private equity firms, has been aggressively investing in South Florida, buying residential property and providing local developers more than $410 million in construction loans.
