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Florida & Gulf Coast   /   April 12, 2021

David Cohen
By: David Cohen

Marcus & Millichap Arranges $15M Sale of Florida Hotel Portfolio

Marcus & Millichap has arranged the $15.4 million sale of a three-property hotel portfolio in Osprey and Nokomis, FL. David Greenberg, Gabriel Shamay and Christopher Passeggiata of Marcus & Millichap’s Fort Lauderdale office represented the seller, an individual based out of the United Kingdom.

The portfolio consists of the Bentley's Boutique Hotel, an 88-room property in Osprey; The Virage Hotel, a 54-room property in Osprey and On The Beach Casey Key Hotel, an 11-room property in Nokomis.

“Beachside hotels throughout Florida have maintained room rates and occupancy far above others through the pandemic.” said Shamay. “Our buyer intends to capitalize on this trend by renovating and repositioning the three properties as a singular upscale beach resort. As evidenced by our successful marketing process, buyers are very confident in the current and future demand for hotels throughout Florida and this is a demand we expect to see long after the pandemic subsides.”

The buyer was not disclosed.

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About the Author

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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