Deepak Khosa Acquires West Palm Beach Hotel From UC Funds

A hotel located at 123 Ocean Avenue in West Palm Beach has been sold in a recent transaction. The property, with a total area of 35,178 square feet, was sold for $8,100,000, resulting in a price per square foot of $230. The hotel comprises 50 keys and the price per key amounts to $162,000. The transaction took place on February 4, 2021.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $8,100,000
• Address: 123 Ocean Avenue, West Palm Beach
• Market: West Palm Beach
• Square Footage: 35,178
• Price per Square Foot: $230
• Number of Keys: 50
• Price per Key: $162,000

The buyer of the hotel is Deepak Khosa, representing Atlantic Property Services. On the other hand, UC Funds, represented by Dan Palmier, acted as the seller in this transaction.