Opterra Capital Acquires Boca Raton Hotel From Archer Capital Group For $13.3M

A hotel located at 701 Northwest 53rd Street in Boca Raton has been sold for $13,300,000. The transaction took place on July 23, 2021. The property spans across 5 acres and has a total of 180 keys. With a price per key of $73,889, the hotel's market value amounts to $2,660,000 per acre.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $13,300,000
• Address: 701 Northwest 53rd Street, Boca Raton
• Keys: 180
• Price per Key: $73,889
• Acres: 5
• Price per Acre: $2,660,000

The buyer of the hotel is Opterra Capital, while the seller is Archer Capital Group represented by Bakul & Rahil Sanghvi.