The Jupiter Beach Resort & Spa has been sold to the hospitality firm Ocean Properties Hotels Resorts & Affiliates for $49.35 million. The firm bought out its joint venture partner Rockwood Capital, paying $293,750 per room key for the 168-room property. The five-story hotel, built in 1973, features 1,000 feet of beachfront, a tennis court and a poolside bar and grill. The sale was completed with a $48.4 million mortgage provided from Bank of New Hampshire. The partners paid $22 million for the hotel in 2007. Ocean Properties has more than 30 hotels in Florida and operates more than 100 properties in North America.
