The Real Deal Miami

ARC Hospitality buys Broward Hampton Inn for $11.5M

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