Updated Jul 29, 2026
Rahil Sanghvi Of Archer Capital Group Secures $10.58M Loan For Hotel Development In Loxahatchee Groves
15370 Tangerine Drive
$10,580,000
Building Size
—
Asset Type
Development Site
Closing
Jul 24, 2026
About this deal
AI
The property asset involved in this transaction is a development site located at 15370 Tangerine Drive, Loxahatchee Groves, FL. This site spans 2.24 acres and is designated for construction. A $10,580,000 loan has been secured to fund the development of an 81-room Home2 Suites by Hilton hotel, which will be a three-story, 41,318-square-foot extended-stay hotel. The site was acquired for $1.9 million in 2025, and the current financing will allow construction to proceed.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,580,000
- Loan Type: Construction
- Lender: Popular Bank
- Landlord: Rahil Sanghvi - Archer Capital Group
- Market: Loxahatchee Groves, FL
- Asset Size: 2.24 acres
- Hotel Brand: Home2 Suites by Hilton
- Number of Rooms: 81
- Square Footage: 41,318
- Acquisition Price: $1.9 million
- Acquisition Year: 2025
The deal involves key individuals and companies, with Groves Hospitality LLC, headed by Rahil Sanghvi of Archer Capital Group, taking the lead in securing the financing needed for the project. The construction loan from Popular Bank will facilitate the development of the hotel, which is part of the mixed-use Groves at Town Center project.
On the Map
$10,580,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.50%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93