Thrive Hospitality Group and Mid America Lodging Group bought a La Quinta Inn in Plantation for $14.5 million, marking at least their third South Florida hotel investment this year.
The firms, both of which are led by members of the Abdulnoor family, bought the 104-key La Quinta Inn & Suites by Wyndham Plantation at 7901 Southwest Sixth Street from an affiliate of hospitality investment firm Highgate, according to records and real estate database Vizzda. The buyers took out a $9.4 million debt from Lake Michigan Credit Union.
Investor Atif Jarbo also partnered with Thrive and Mid America on the purchase, which breaks down to $139,423 per room.
Completed in 1990, the four-story hotel spans 51,000 square feet on 2 acres, Vizzda records show.
Auburn Hills, Michigan-based Mid America is led by Malik Abdulnoor, whose portfolio consists of 55 hotels, including 17 in various stages of development. His brothers, Maher and Sahir Abdulnoor, lead Warren, Michigan-based Thrive Hospitality, which has a portfolio of 32 hotels, including seven in various stages of development, according to Monte Abdulnoor, Maher’s son.
The firms’ properties are mostly in Michigan, though the Abdulnoors expanded to South Florida this year.
In March, they bought the 110-key Courtyard by Marriott Fort Lauderdale Coral Springs at 620 North University Drive in Coral Springs for $17 million. In October, Thrive and Mid America paid $21 million for the Hampton Inn Fort Lauderdale/Plantation at 7801 Southwest Sixth Street in Plantation.
Investor Jarbo also partnered with Thrive and Mid America on the two deals.
The purchases come amid an uptick of hotel deals in South Florida.
In October, Albanian conglomerate Kastrati Group bought the 124-key SLS Brickell at 1300 South Miami Avenue in Miami for $53.5 million. Following that deal, Kolter Hospitality, and Isaac and Liat Toledano’s BH Group, paid $24 million for the 84-key Crystal Beach Suites Miami Oceanfront Hotel at 6985 Collins Avenue in Miami Beach.
Last month, Brookfield Properties put on the market the 302-key, 17-acre waterfront Ritz-Carlton resort at 455 Grand Bay Drive in Key Biscayne. Brookfield has a two-thirds ownership interest in the property, and Gencom owns the remaining stake.
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