Ian Quint Of Brasswater Acquires Two Hampton Inn Hotels For $48 Million In Florida
1475 Gateway Boulevard & 2025 Vista Parkway
$48,000,000
$280/SF
Building Size
171,276 SF
Asset Type
Hotel
Closing
Oct 21, 2026
About this deal
AI
The transaction involved two Hampton Inn hotels located at 1475 Gateway Boulevard and 2025 Vista Parkway in Boynton Beach and West Palm Beach, FL. The total asset spans 5.4 acres with a combined square footage of 171,276. The buyer purchased the properties for an overall sale price of $48,000,000 and acquired keys for a total of 274. The price per key was calculated at $175,182 and the price per square foot stood at $280.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $48,000,000
- Buyer: Ian Quint - Brasswater
- Seller: Bruce Riggins - Hospitality Investors Trust
- Key Count: 274
- Square Footage: 171,276
- Price Per Key: $175,182
- Price Per Square Foot: $280
Brasswater's acquisition includes a 164-room property in Boynton Beach and a 110-room hotel in West Palm Beach. Axonic Capital provided a debt package totaling $42.2 million to finance these acquisitions as Hospitality Investors Trust pursues the sale of its South Florida hotel portfolio.
On the Map
$48,000,000
$280/SF
Hotel
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Boulevard Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93