A closed beachfront hotel in Hillsboro Beach has been acquired by Aventura-based BH3 for $13.5 million. The 69 key property, Seabonay Beach Resort, which is located at 1159 Hillsboro Mile in Pompano Beach, changed hands for just over $195,650 per room. The sale also included a parking lot across the street that fronts the Intracoastal road. The buyer, which plans to renovate the entire asset, closed the purchase with a $11 million mortgage from Delaware-based MIOF Credit 1. Built in 1990, the 63,000 sqf hotel last sold in 2007 for $10.45 million. “For the moment, our focus is remodeling the asset and what will be done is to be determined. It will be ready for a relaunch in January 2018,” said Daniel Lebensohn, BH3. He also stated that the firm may sell the property or operate it as a hotel and that in his view no other hotels can be developed in the area.
