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