Waterstone Resort & Marina: A DoubleTree Hotel - Boca Raton, FL
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AWH Partners, LLC Acquire Waterfront Hotel in Boca Raton

AWH Partners, LLC (AWH) — a joint venture of Winston Harton Holdings, LLC (WHH) and August Group Ventures, LLC (AGV) — in partnership with The Lane Organization, LLC today announced the acquisition and planned reinvention of the Boca Raton Bridge Hotel, the waterfront boutique hotel in which every room presents water views, ideally located on the Intracoastal Waterway among pristine beaches, champion golf courses and world-class shopping and dining in Boca Raton. The seller and transaction price were not disclosed.

“This purchase represents our continued belief that hotel repositionings in strong submarkets offer huge opportunities for value-add investing.” said Russ Flicker, principal of AWH Partners. “Our past experience in Boca Raton was extremely positive; we love the market and look forward to putting together a seasoned team of designers and consultants to completely transform the hotel into a premier South Florida experience.”

The redevelopment includes an entirely new concept, expanded water-front amenities as well as a new dock flanking the entire Lake Boca perimeter. Extensive renovations of guestrooms, restaurants and public spaces will begin in spring 2013.

The Boca Raton Bridge Hotel sits on the edge of Lake Boca and the Intracoastal Waterway and offers panoramic waterfront views from every guestroom. Located a block from the Atlantic Ocean, the hotel offers on-site boat, wave runner and bicycle rentals and nearby sites including golf courses, casinos, upscale shopping at the Boca Raton Town Center and village-style shopping and culture downtown. The hotel also boasts waterfront casual and fine dining restaurants, an outdoor pool area and meeting space.

Lane Hospitality has been awarded the management contract.

“We are pleased to partner with Lane Hospitality on this exciting project and leverage their deep experience operating first class independent hotels and resorts,” said Flicker.

The seasoned team of AGV and WHH bring extensive experience in hospitality investment, development and management. The team formed AWH Partners to pursue hospitality investments requiring capital infusions and/or repositionings.