Rob Rain Of OTO Development Acquires Beachcomber Beach Resort From Karim Alibhai For $31.5M

The property asset involved in this transaction is the Beachcomber Beach Resort, a hotel located at 6200 Gulf Boulevard, St. Pete Beach, FL. The hotel spans 6 acres and features 102 rooms. It was sold for $31.5 million, reflecting a price per key of approximately $308,824. The resort had undergone renovation and reopened in October after sustaining damage from Hurricane Helene.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $31,500,000
• Address: 6200 Gulf Boulevard
• Market: St. Pete Beach, FL
• Acres: 6
• Rooms: 102
• Price Per Key: $308,824
• Buyer: Rob Rain - OTO Development
• Seller: Karim Alibhai - Gencom
• Brokers: Hodges Ward Elliott

Rob Rain represented OTO Development in this transaction, while Karim Alibhai represented Gencom. Hodges Ward Elliott facilitated the sale of the resort, marking a significant deal in the hospitality sector of St. Pete Beach.