A company affiliated with New York-based American Realty Capital has bought another South Florida hotel as part of its $1.8-billion acquisition of the Equity Inns lodging portfolio, reports the South Florida Business Journal.
ARC Hospitality Portfolio I Owner LLC purchased the Hampton Inn at 4001 RCA Blvd., in Palm Beach Gardens, for $20.68 million, according to Palm Beach County records. W2007 Equity Inns Realty LLC was the seller.
The 117-room hotel was previously sold for $14.92 million in 2004.
The company acquired other South Florida properties in the deal:
Holiday Inn Express & Suites at 1520 S.W. 88th St. in Miami sold for $7.5 million.
Hampton Inn at at 660 W. Hillsboro Blvd. in Deerfield Beach sold for $11.5 million.
Hampton Inn & Suites at 1475 W. Gateway Blvd. in Boynton Beach sold for $34.9 million. .
Hampton Inn at 2025 Vista Parkway in West Palm Beach sold for $13.67 million.
Hampton Inn at 1455 W. Yamato Road sold for $12.89 million.
The hotel is among 116 hotels across 31 states that ARC Hospitality Trust acquired. The company now owns 122 hotels.