Index Investment Group Acquires Hotel In West Palm Beach For $12.5M

The Hotel located at 1505 Belvedere Rd in West Palm Beach has been sold for a sale price of $12,500,000. The property spans a total area of 47,472 square feet, with a price per square foot of $263. It consists of 135 keys, resulting in a price per key of $92,593.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $12,500,000
• Address: 1505 Belvedere Rd
• Market: West Palm Beach

The buyer of this property is Index Investment Group, represented by Bjarne Borg. The seller is Cherry Cove Hospitality. The deal was facilitated by Bastian Laggerbauer, Mark Rubin, and Rich Lillis from Colliers International.