Gaurav Gupta Of Artifact Group And Sergio Rok Of ROK Acquisitions Buy Hotel For $26.6M

The property involved in the transaction is a hotel located at 311 North University Drive, Plantation, FL. The asset is known as the Sheraton Suites Fort Lauderdale West and features 265 keys. It was acquired for $26,600,000, which translates to approximately $100,377 per key. The hotel, built in 1991, includes 7,900 square feet of meeting space, a rooftop pool, fitness center, restaurant, and bar.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $26,600,000
• Buyer: Gaurav Gupta - Artifact Group
• Buyer: Sergio Rok - ROK Acquisitions
• Seller: Amit Govin - Everwood Capital Partners
• Brokers: Andrew Dickey, Maciej Polek, Wyatt Krapf, Jesse Pohl, Henry Winchester & Mason Greif - JLL
• Lender: CIM Group
• Keys: 265
• PPK: $100,377

A partnership between Artifact Group based in Montreal and Rok Acquisitions located in Miami executed the purchase from an affiliate of Everwood Capital Partners. JLL Hotels & Hospitality facilitated the sale and secured a loan of $35.45 million through CIM Group for the acquisition.