MIAMI, Florida—Kabani Hotel Group announced the successful sale of voco St. Augustine — Historic Area by IHG, a 50-room upscale boutique hotel located between downtown St. Augustine and St. Augustine Beach. The asset sold for $9,000,000, representing approximately $180,000 per key, and closed at a 6.3 percent capitalization rate and an estimated ~5.3× room revenue multiple. The transaction was exclusively listed and brokered by Lucas Mondino, partner at Kabani Hotel Group. The property was under […]

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