The Real Deal Miami

Boca resort progresses

March 27, 2009 11:51AM

Private equity firm LXR Luxury Resorts & Hotels has topped off its first condo tower at the Boca Raton Resort & Club, and continues to move forward in its four-year effort to rebrand, reposition and reinvigorate the luxury hotel empire once owned by billionaire businessman H. Wayne Huizenga. The 1,047-room resort also unveiled the $120 million renovation of its adjacent beach club and completes a $100 million overhaul of restaurants and other common areas. While LXR plans an eventual sale of its hotel assets, that is part of a longer-term plan that will require more work, said company president Jean-Jacques Pergant.