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45 Tpc Blvd

Updated Aug 18, 2025

Mike Patel Of T2 Hospitality Acquires Hilton Garden Inn In Ponte Vedra Beach For $28.5M
SOLDHotel

Mike Patel Of T2 Hospitality Acquires Hilton Garden Inn In Ponte Vedra Beach For $28.5M

45 Tpc Blvd

$28,500,000

$341/SF

Building Size

83,497 SF

Asset Type

Hotel

Closing

Aug 15, 2025

About this deal

AI

The asset involved in the transaction is a hotel located at 45 TPC Blvd., Ponte Vedra Beach. This hotel, the Hilton Garden Inn Jacksonville Ponte Vedra Sawgrass, was built in 2000 and has a total square footage of 83,497. It was sold for a transaction amount of $28,500,000, which results in a price per square foot of $341. The hotel features updated rooms, a lobby, a fitness center, a pool, and a restaurant called Mulligan’s Pub, having undergone renovations in 2022.

Summary of transation details:

  • Property Type: Hotel
  • Transaction Amount: $28,500,000
  • Square Footage: 83,497
  • Address: 45 TPC Blvd
  • Market: Ponte Vedra Beach
  • Buyer: Mike Patel - T2 Hospitality
  • Seller: Mit Shah - Noble Investment Group

In this transaction, Mike Patel represented T2 Hospitality while Mit Shah represented Noble Investment Group. Both individuals were instrumental in finalizing the sale of the Hilton Garden Inn Jacksonville Ponte Vedra Sawgrass.

On the Map

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$28,500,000

$341/SF

Hotel

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Players

Mike Patel

T2 Hospitality

Buyer

$174.4M

vol

4 deals

Buyer

Mit Shah

Noble Investment Group

Seller

$146M

vol

4 deals

Seller
Bilt advertisement

Ponte Vedra Beach Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Deal FAQ

About $341 per square foot on a published $28.5M for 83,497 square feet (2025).

Visit Mit Shah to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.56%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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