Tom Gores' Platinum Equity Advisors Sells Boca Raton Hotel To Naveen Shah's Blue Sky Hospitality For $29.5M

Located at 661 Northwest 53rd St in Boca Raton, this hotel property was recently sold in a transaction that took place on December 18, 2019. The property spans 254,912 square feet with a total of 236 units. The sale price for this hotel property was recorded at $29,500,000, resulting in a price per square foot of $115. The buyer, Blue Sky Hospitality, was represented by Naveen Shah, while Platinum Equity Advisors, led by Tom Gores, acted as the seller.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $29,500,000
• Address: 661 Northwest 53rd St, Boca Raton
• Market: Boca Raton
• Square Footage: 254,912
• Price per Square Foot: $115
• Units: 236

The sale of this hotel property in Boca Raton was facilitated by Tom Gores from Platinum Equity Advisors, representing the seller, and Naveen Shah from Blue Sky Hospitality, representing the buyer. Both parties worked together to finalize this transaction.