Michigan hoteliers Malik Abdulnoor and Sahir Malki have acquired the Hampton Inn Fort Lauderdale/Plantation for $21 million, their second South Florida hospitality purchase this year. The 128-key hotel, located at 7801 Southwest 6th Street in Plantation, sits on 2.5 acres of land. The property is part of the thriving hotel market in Plantation, offering a prime location for visitors.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $21,000,000
• Address: 7801 Southwest 6th Street
• Market: Plantation
• Acres: 2.5

The buyer, Malik Abdulnoor of MHS Group, and Sahir Malki of Thrive Hospitality Group, have successfully closed the deal. On the seller's side, Peachtree Hotel Group, represented by Greg Friedman, agreed to the transaction. Live Oak Bank provided a loan of $12.5 million, enabling the purchase of the Hampton Inn Fort Lauderdale/Plantation.

The hotel features 128 keys, and the sale price equates to approximately $327 per room. The buyer's previous experience in the hospitality industry, combined with the convenient location and promising market conditions, make this acquisition a strategic move for Abdulnoor and Malki's expanding portfolio. This purchase follows their continued investment in South Florida's booming hospitality sector.