Motel 6 in Lantana sells to Hare Krishna company for $6M

The hotel sold for $54,545 per unit

Miami /
Jan.January 28, 2020 01:30 PM
1310 West Lantana Road

1310 West Lantana Road

The Hare Krishna Lantana Hotel company bought a Motel 6 for $8.4 million.

Hare Krishna Lantana Hotel, managed by Vijay Patel, bought the 154-unit motel at 1310 West Lantana Road for $54,545 per unit, records show. Carrollton,Texas-based G6 hospitality sold the property.

The 39,520-square-foot building last traded for $5.7 million in 2012, records show. It was built in 1988. The Motel 6 sits on 3 acres off of I-95 near West Lantana Road.

G6 Hospitality was founded by William Becker and Paul Greene in 1962. The company owns, operates, and franchises more than 1,400 economy lodging locations under the Motel 6 and Studio 6 brands in the United States and Canada and the Hotel 6 brand in India. In 2012, Blackstone acquired the discount lodging chain from French hotel company Accor SA in a $1.9 billion deal.

Vijay Patel is affiliated with Hudson, Florida-based Star Oil, a supplier of petroleum products, according to its website.

Lantana will soon be seeing an influx of new development. Construction is underway at Water Tower Commons, a 73-acre mixed-use development, where Miami-based Related Group is building a 360-unit market-rate apartment complex. The project is at the former site of A.G. Holley State Hospital.


Related Articles

arrow_forward_ios
Ari Pearl, Jonathan Leifer and 9540 West Bay Harbor Drive. (Wyndam Hotels, PPG Development, L3C Capital Partners)
Ari Pearl, Jonathan Leifer acquire Bay Harbor Islands hotel out of foreclosure
Ari Pearl, Jonathan Leifer acquire Bay Harbor Islands hotel out of foreclosure
From left: Tom Brady and Gisele Bündchen; Pharrell Williams; Sylvester Stallone and Jennifer Flavin; Jared Kushner and Ivanka Trump (Getty, iStock)
South Florida’s biggest real estate stories of 2020
South Florida’s biggest real estate stories of 2020
Shelborne South Beach and Seagull Hotel (Shelborne, Google Maps)
Here are South Florida’s biggest hotel sales in 2020
Here are South Florida’s biggest hotel sales in 2020
The Gale Hotel with Harvey Hernandez
Banyan Investment buys Gale Fort Lauderdale hotel from Harvey Hernandez
Banyan Investment buys Gale Fort Lauderdale hotel from Harvey Hernandez
Francisco Martinez Miyashiki (forefront) and Francisco Martinez Celeiro with 16805 Northwest 12th Avenue (Linkedin, Wikipedia Commons, Google Maps)
Former actor sells Miami Gardens hotel for $6M
Former actor sells Miami Gardens hotel for $6M
Paul Lardi and 200-212 Collins Avenue (Linkedin, Alex Zylberglait/Marcus & Millichap)
South Beach property sells for $6M, buyer plans apartment-hotel
South Beach property sells for $6M, buyer plans apartment-hotel
Diego Colmenero and Charlie Porchetto from Urbanica plan to break ground on Edgewater hotel (Urbanica)
Urbanica completes $9M assemblage for Edgewater hotel
Urbanica completes $9M assemblage for Edgewater hotel
Rendering of the project
Fort Lauderdale OKs plan for Bahia Cabana Hotel on the beach
Fort Lauderdale OKs plan for Bahia Cabana Hotel on the beach
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...