DEAL OVERVIEW

HUNTER HOTEL ADVISORS has been retained as the exclusive advisor to solicit offers on the 180-room Holiday Inn & Suites Boca Raton – North, presenting a prime multi-family conversion opportunity. Situated on 5 acres at 701 NW 53rd St, Boca Raton, FL 33487, the Property is adjacent to Florida’s largest single office complex, the Boca Raton Innovation Campus (BRIC), and just one mile from Florida Atlantic University (FAU)—two major demand drivers for housing. Boca Raton’s explosive population growth has created a severe housing shortage, driving rising rents and high absorption rates. The multi-family vacancy rate has dropped to just 5.4%, down nearly 2% from the previous period, while market rents have surged to $2,820 per unit. Demand remains exceptionally strong, with inventory up 3.7% and a 12-month absorption rate of 151.5%, signaling a severely undersupplied market where units are leased faster than new supply can be delivered.  With no new multi-family construction underway, the market’s supply constraints present a unique opportunity for an investor to capitalize on Boca Raton’s surging demand for rental housing, while allowing an investor to capitalize on revenues and cash flows generated by the property’s Hotel operations while finalizing approvals for the change of use with the city.

This opportunity is being offered at a significant discount to replacement cost and offers an investor the flexibility to terminate the franchise in the short to medium term, upon conversion. With a highly desirable location, strong corporate and leisure demand, and substantial upside potential upon conversion, this investment presents a rare opportunity to enter one of Florida’s most dynamic Hotel and multifamily rental markets.

INVESTMENT HIGHLIGHTS

• PREMIER LOCATION ADJACENT TO THE LARGEST SINGLE OFFICE COMPLEX IN FLORIDA: The Holiday Inn Boca Raton - North offers an unbeatable location with easy access to the Boca Raton Tri-Rail Station and I-95, placing guests in the heart of Boca Raton’s business corridor. The Hotel is minutes from major corporate offices, including ADMA Biologics (0.2 miles), Canon (1.4 miles), Tyco (1.4 miles), Office Depot HQ (2 miles), and the Boca Raton Innovation Campus (BRIC, 1.0 miles)—Florida’s largest single office complex with 1.7 million square feet of space. 
• VALUE ADD OPPORTUNITY: Significant upside is available for new ownership to convert to an alternative use. Holiday Inn & Suites properties are ideal for conversion, as their suite-style guestrooms already feature a separate sleeping area, living space, and sofa bed, making them well-suited for apartment living. Existing amenities such as a swimming pool, fitness center, and restaurant can be easily repurposed for residents, reducing the need for costly renovations. This cost-effective approach not only reduces capital expenditure but also accelerates the timeline to profitability, making the conversion a highly attractive investment opportunity. Additionally, Boca Raton has a pressing need to create 80,785 new units of housing by 2035, requiring an average of 8,000+ units per year to accommodate the city’s demand incentivizing the city to facilitate a change in use of the Hotel. However, with no new multi-family construction currently underway in Boca Raton, future supply remains limited, creating a prime opportunity for a buyer to capitalize on the market demand.  
• OFFERED BELOW REPLACEMENT COST: The Hotel is being offered at a discount to replacement cost in an exponentially growing market, providing an investor a very cost-effective conversion opportunity. 
• OPERATIONAL UPSIDE: Institutionally managed property offering significant operational upside through localized management efficiencies.

LISTING CONTACTS

FINANCING CONTACT

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ABOUT HUNTER

Hunter Hotel Advisors is the leading investment advisory firm focused exclusively on the hotel industry. Their seasoned team of investment professionals and offices nationwide consistently provide clients with optimal results in hotel brokerage, financial advisory and capital markets services of any size or complexity. With over 45 years of experience in both full and select-service single assets as well as portfolio marketing, the firm’s capacity in valuation, economic analysis, and industry relationships has allowed HUNTER to consistently maximize value regardless of market conditions.

Hunter Hotel Advisors is the founder and producer of the well-known and respected Hunter Hotel Investment Conference. Since their first conference in 1989, they have had a consistent focus on producing an educational and networking format based on real estate and finance for hotel owners.