Berkadia plans sale of 221-room DoubleTree by Hilton hotel in South Florida
DEERFIELD BEACH, FL. — Berkadia arranged the sale of DoubleTree by Hilton Hotel Deerfield Beach – Boca Raton, a 221-room hotel located at 100 Fairway Drive in Deerfield Beach, South Florida. Berkadia’s Michael Weinberg, Preston Reid and Wyatt Krapf represented Canadian seller Vista Hospitality in the transaction. The private seller has invested more than $7 million in capital improvements to the hotel since 2018.
Scott Wadler of Berkadia’s Miami office secured acquisition financing on behalf of the buyer, DoveHill Capital Management, a Fort Lauderdale-based private equity investment and development organization. A local Florida bank issued the three-year loan with two one-year extension options. The sale price and loan amount were not disclosed, but Berkadia says the total combined amount is nearly $70 million.
Sprawling on 6.2 acres near I-95 and the Atlantic Ocean, the DoubleTree Hotel features an on-site restaurant, heated outdoor pool, fitness center open 24 hours a day, pet-friendly accommodations, digital keys, a business center, and 22,000 square feet of meeting space.