Shoham Amin Of Excel Group Acquires Hampton Inn & Suites Coconut Creek For $17.28M From Seth Fellman And Malcolm Butters

The property asset involved in the transaction is a hotel located at 5740 North State Road 7 in Coconut Creek, comprising 2.81 acres and a total square footage of 62,602. The hotel consists of 105 rooms and was sold for $17,280,000, leading to a price per key of $164,571 and a price per square foot of $276.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $17,280,000
• Buyer: Shoham Amin - Excel Group
• Seller: Seth Fellman - Morlin Group; Malcolm Butters - Butters Construction & Development
• Lender: Western Alliance Bank
• Mortgage Amount: $26,030,000
• Keys: 105
• Market: Coconut Creek
• ACRES: 2.81
• SF: 62,602

This transaction involved Shoham Amin representing Excel Group as the buyer acquiring the property from a joint venture between Seth Fellman and Malcolm Butters, signifying a collaboration between Morlin Group and Butters Construction & Development in the sale. The financial arrangement included a significant mortgage from Western Alliance Bank which also covered another hotel property.