Nonprofit Buyer Acquires Ramada Baymeadows Hotel In Jacksonville For $13.5 Million

The asset involved in this transaction is the Ramada Baymeadows, a vacant, non-operational hotel located at 9150 Baymeadows Road in Jacksonville. The sale price for this property was $13,500,000. This hotel represents a special-situation investment opportunity within the Jacksonville market.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $13,500,000
• Address: 9150 Baymeadows Road
• Market: Jacksonville
• Buyer Type: Nonprofit
• Intended Use: Conversion into veterans housing

The transaction was overseen by Kabani Hotel Group, with Lucas Mondino and Ahmed Kabani acting as the brokers in this deal. Their representation facilitated the sale of the property, which is intended for a specific purpose by the nonprofit buyer.