The Real Deal Miami

ARC Hospitality buys Broward Hampton Inn for $11.5M

Part of 116-hotel, $1.8B acquisition for the hotel REIT

March 13, 2015 12:45PM
By Katherine Kallergis

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ARC Chairman William Kahane and the Hampton Inn Deerfield Beach

ARC Chairman William Kahane and the Hampton Inn Deerfield Beach

Hotel real estate investment trust ARC Hospitality purchased a Hampton Inn in Deerfield Beach recently, Broward County records show.

An affiliate of Whitehall Real Estate Funds, sponsored by Goldman Sachs, sold the 106-room hotel for $11.5 million. The purchase was part of a larger deal across the U.S. that closed earlier this month.

American Realty Capital Hospitality acquired the Equity Inns Lodging Portfolio, 116 hotels, for $1.8 billion, making it one of the largest select-service REITs.

The sellers were subsidiaries of W2007 Grace I and WNT Holdings, which will retain a preferred equity interest, according to GlobeSt.com.

The hotel, at 660 West Hillsboro Boulevard, last sold in October 2007 for an undisclosed amount. Before that, it sold for nearly $13 million in October 2004. The 71,648-square-foot Hampton Inn was built in 2002 and includes a parking lot and pool.

ARC Hospitality’s portfolio includes Hampton Inn, Hilton Garden Inn, Homewood Suites, Embassy Suites, Courtyard Marriott, Residence Inn, Hyatt Place and Holiday Inn.

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