$17M Deal Creates New Affordable Housing Solution
Colliers facilitated the sale of a 55,269-square-foot hotel site located at 1700 Broward Blvd. in Fort Lauderdale.
Vice President Bradley Arendt, Executive Vice President Mika Mattingly and Associate Jonathan Papeika of the Colliers South Florida Urban Core Division represented the seller, Balaji Investments Inc., in the transaction. Ryan Shaw of Marcus & Millichap represented the buyer, Aids Healthcare Foundation.
“This sale highlights the growing demand for affordable housing initiatives in Fort Lauderdale.” said Vice President Bradley Arendt.
“This is a great acquisition for the buyer who will use the hotel for housing options to address the affordable housing crisis,” said First Vice President Ryan Shaw.
Built in 1982, and renovated in 2016, the 150-room Days Inn spans 55,269 square feet within a 133,361-square-foot housing development. Located on W Broward Blvd, a main vessel through Fort Lauderdale’s downtown, and minutes from Interstate 95, the Fort Lauderdale Airport and the Fort Lauderdale Port, this hotel is a large draw to tourists with its convenient location and waterfront views.
-------------------------
Get the latest industry news and information from CRE-sources delivered right to your email inbox!
And we promise…no more than one email each morning. CLICK HERE TO SUBSCRIBE TODAY!