West Palm Beach-based Kolter Group has acquired $42.6 million in financing for a Hyatt Place Hotel in Boca Raton. The new 12-story property will sit on the corner of South Federal Highway and East Palmetto Park Road, and will feature 200 rooms and an 8,000 square-foot restaurant. The company purchased the 1 acre property for the project, which served as parking lot for the office building next door, through Ram Realty Services. Financing for the new scheme has been provided by Regions Bank.
