Marcus & Millichap Facilitates $15 Million Sale of Boca Raton Residence Inn, Set for Conversion to Student Housing

Reuters

08/22

Marcus & Millichap Facilitates $15 Million Sale of Boca Raton Residence Inn, Set for Conversion to Student Housing

Marcus & Millichap Inc., a prominent commercial real estate brokerage firm, has announced the successful sale of the Residence Inn by Marriott in Boca Raton for $15 million. The 120-room extended-stay hotel, located on 4.26 acres at 525 NW 77th St., will be converted into student housing to support Florida Atlantic University. The buyer, a Michigan-based investment group, plans to remove the Marriott franchise, addressing previous operational and management issues. The property's conversion aligns with Florida's Live Local Act, aiming to provide much-needed housing for the university. The hotel features amenities such as a fitness center, swimming pool, and basketball courts.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus & Millichap Inc. published the original content used to generate this news brief on August 20, 2025, and is solely responsible for the information contained therein.

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The 120-room extended-stay hotel, located on 4.26 acres at 525 NW 77th St., will be converted into student housing to support Florida Atlantic University. The buyer, a Michigan-based investment group, plans to remove the Marriott franchise, addressing previous operational and management issues. The property's conversion aligns with Florida's Live Local Act, aiming to provide much-needed housing for the university. The hotel features amenities such as a fitness center, swimming pool, and basketball courts.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marcus &amp; Millichap Inc. published the original content used to generate this news brief on August 20, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B45NX917.SGD","symbol_name":"Neuberger Berman US Real Estate Securities A Acc SGD-H","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250821:nNDL6ys7Zb:1","article_id":"2561241383","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2561241383","pubTimestamp":1755802427,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Marcus & Millichap Inc., a prominent commercial real estate brokerage firm, has announced the successful sale of the Residence Inn by Marriott in Boca Raton for $15 million. 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The 120-room extended-stay hotel, located on 4.26 acres at 525 NW 77th St., will be converted into student housing to support Florida Atlantic University. The buyer, a Michigan-based investment group, plans to remove the Marriott franchise, addressing previous operational and management issues. The property's conversion aligns with Florida's Live Local Act, aiming to provide much-needed housing for the university. The hotel features amenities such as a fitness center, swimming pool, and basketball courts.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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