The Real Deal Miami

Ukrainian investors target Lauderdale-by-the-Sea hotels

Florida Development Group has invested more than $60M in the hotels

September 12, 2014 03:45PM

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Captain's Quarters, Lauderdale Beachside Hotel, Villa Caprice and Lauderdale-by-the-Sea-Resort & Beachclub

Captain’s Quarters, Lauderdale Beachside Hotel, Villa Caprice and Lauderdale-by-the-Sea-Resort & Beachclub

Since launching in April 2013, Florida Development Group has invested more than $60 million in six hotels and small inns in Lauderdale-by-the-Sea.

The Boca Raton-based company, led by Ukrainian real estate developers, plans to redevelop the properties, according to the Sun-Sentinel. The properties include Captain’s Quarters, Lauderdale Beachside Hotel, Villa Caprice and Lauderdale-by-the-Sea-Resort & Beachclub.

“Florida Development Group is a big believer in the potential of Lauderdale-by-the-Sea,” said Mark Ellert, president of IAG Florida, which is overseeing the redevelopment. “They stumbled into South Florida and have decided there’s great opportunity in this little community.” [Sun-Sentinel] Christopher Cameron

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