The Montford Group and Opterra Capital Acquire 180 Room Holiday Inn Boca Raton North
Boca Raton, FL – The Montford Group. and Opterra Capital LLC, announce today the acquisition of the 180-room Holiday Inn Boca Raton North. Starting July 8, Griffin Hotel Management began operation and management of the hotel.
“We are proud to acquire the Holiday Inn Boca Raton in our home market that benefits from diverse corporate and leisure demand, accessibility to luxury shopping, restaurants and golf, and Florida Atlantic University” says Glenn Alba, CEO and Founder of Opterra Capital.”The hotel is a hidden gem with generously sized two-room suite configurations that is well-positioned to see increasing room night demand as the market continues to recover.”
“We are elated to add a Holiday Inn to our growing portfolio of hotels. Boca Raton has excellent regional and local access and the market will greatly benefit from the migra tion of leisure transient demand within the entire south Florida market,” says Sunju Patel, CEO and Founder of The Montford Group.
Conveniently located in the Park of Broken Sound, directly off I-95, the hotel will under go more renovations to upgrade the tropically landscaped courtyard and pool, the Lobby and common areas and a full revamp of the hotel restaurant. With its oversized and recently renovated guest room, a 24-hour business center, conference space, and fitness center, the Holiday Inn offers a resort-style oasis in the heart of Boca Raton.
About Opterra Capital, LLC
Opterra Capital is a Boca Raton, FL based real estate investment sponsor and operating partner, capital markets advisor, and asset manager with significant experience in all sectors of commercial real estate. Founded by Glenn Alba, a former Managing Director at Blackstone for 20 years, Opterra Capital consists of four industry-professional principals with more than 80 years of experience in hotel ownership, asset man agement and development. Opterra Capital seeks to leverage this expertise towards value-add acquisi tion and proactive investment management to deliver attractive, risk-adjusted returns. www.opterracapi tal.com
About The Montford Group
The Montford Group. is a real estate investment and development company with more than 50 years combined experience in real estate investments, acquisitions, and dispositions along with horizontal and vertical development. From the creative minds of seasoned entrepreneur duo Sunju Patel and Jessica Reid, The Montford Group. set off to curate an unrivaled collection of unique properties and remarkable experiences for people who believe that home and hospitality shouldn’t be rare finds, but the common ground that unites us. The company has developed two hotels in Charleston (totaling 229 keys) as well as approximately 190,000 SF of residential properties, 275,000 SF of retail space, 500,000 SF of industrial space, 225,000 SF of office space and 90,000 SF of medical office and hospital space. Today, their portfolio consists of over 40,000 SF of office and retail along with over 600 hotel keys of existing and ground-up de velopment that include Moxy by Marriott and Thompson by Hyatt. https://www.montfordgroup.com
About Griffin Hotel Management, LLC
Griffin Hotel Management’s history runs deep with industry ties dating back to1948 as Seymour N. Logan Associates, a Chicago based real estate firm with a concentration in ownership and management of hos pitality assets through its wholly owned subsidiary, Associated Hotels, LLC. In 2019, with the ever-changing dynamics in the lodging industry, our leadership team along with our strategic owners/partners identified underserved areas of support within the lodging segment. This resulted in the transformation to Griffin HotelManagement, a high value-add management company working on behalf of individual ownership groups and institutional investors to deliver exceptional owner returns. https://griffinhotelmanagement.- com/about/
