Highgate Capital Acquires Florida City Hotel For $21.5M

An ACRES 2.9 hotel located at 60 SW 352nd St. in Florida City was recently sold for $21,500,000. The transaction took place on 05/11/2022, and the property was acquired by Highgate Capital Investments, represented by Arash Azarbarzin & Mahmood Khimji. The seller, Baywood Hotels, was represented by Chirag Desai. The hotel includes 132 keys, resulting in a price per key of $162,879.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $21,500,000
• Address: 60 SW 352nd St., Florida City
• Market: Florida City
• Acres: 2.9

Arash Azarbarzin & Mahmood Khimji, representing Highgate Capital Investments, successfully acquired the hotel from Baywood Hotels, with Chirag Desai as their representative. The transaction included a total of 132 keys, and the price per key was determined to be $162,879.