The Real Deal Miami

Peachtree buys Hampton Inn near Westfield Broward

Midas Hospitality sold the 128-key hotel for $16.6M or $130K per room
By Katherine Kallergis | February 12, 2019 03:30PM

7801 Southwest Sixth Street in Plantation (Credit: Trip Advisor)

A company tied to Peachtree Hotel Group paid $16.6 million for a Hampton Inn hotel near the Westfield Broward mall in Plantation.

Property records show Midas Hospitality sold the five-story, 128-key hotel at 7801 Southwest Sixth Street to PHVIF II Plantation LLC, managed by Peachtree Hotel Value & Income Fund. The property traded for about $130,000 per room.

Midas Hospitality, a hospitality management group based in St. Louis, Missouri, paid $13 million for the 64,000-square-foot hotel in 2013, investing about $1.3 million in exterior alterations and interior renovations since then, records show.

The 2.5-acre property, between Westfield Broward and the Jacaranda Golf Club, was developed between 2000 and 2008.

Atlanta-based Peachtree owns hotels in Florida, Alabama, Georgia, South Carolina, Indiana and other states. In 2017, it paid $22 million for the Element Miami International Airport hotel.

Near the Hampton Inn, Temple Kol Ami Emanu-el planned to sell a portion of its campus to Stiles Corp. to build a 315-unit apartment complex.

Just north of the mall, Benderson Development Co. recently paid $7.8 million for a former Toys “R” Us building at 8101 West Broward Boulevard.