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Kanti Pater's Vista Hospitality Acquires Castillo Real Hotel In St. Augustine For $11.5M

Property Image
SOLD
$11,500,000

Florida

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Hotel
Sold 10/04/2023
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Property Image
SOLD

Kanti Pater's Vista Hospitality Acquires Castillo Real Hotel In St. Augustine For $11.5M

530 A1a Beach Boulevard

See Similar Deals
Hotel
Sold 10/04/2023
the dealdetailscomps

Summary

FLORIDA
Asset Type:Hotel
Transaction Type:Sale

Hotelier Kanti Patel has purchased the Castillo Real Hotel in St. Augustine Beach for $11.5 million from MSB Hotels III LLC. The hotel is located at 530 A1A Beach Boulevard in the St. Augustine market. The transaction was completed on 10/04/2023.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $11,500,000
  • Address: 530 A1A Beach Boulevard - Castillo Real Hotel
  • Market: St. Augustine

Kanti Patel, the buyer, is the owner of Vista Hospitality, which currently operates 12 other hotels in the region, including the Renaissance St. Augustine Historic Downtown Hotel. The new hotel's brand has not been disclosed.

Players

VH
Vista Hospitality
BUYER

Details

SOLD
IMAGE: Kanti Pater DATE: 10/04/2023 ADDRESS: 530 A1A Beach Boulevard - Castillo Real Hotel MARKET: St. Augustine ASSET TYPE: Hotel BUYER: Kanti Pater - Vista Hospitality SELLER: MSB Hotels III LLC SALE PRICE: $11,500,000 NOTE: Hotelier Kanti Patel has purchased the Castillo Real Hotel in St. Augustine Beach for $11.5 million from MSB Hotels III LLC. Patel, a notable figure in the St. Augustine area, owns Vista Hospitality, which has 12 other hotels in the region, including the Renaissance St. Augustine Historic Downtown Hotel. The new hotel's brand remains undisclosed.

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