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South Florida

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

The hotel sold for $54,545 per unit

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.

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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.

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