MIAMI, Florida—Kabani Hotel Group introduced the profitable sale of the Southern Oaks Inn St. Augustine, a 124-room exterior hall property in St. Augustine, Florida. The lodge bought for $12,501,000, equating to roughly $100,814 per room. The transaction was completely listed and brokered by Lucas Mondino, associate at Kabani Resort Group.
“We introduced this asset to market with a tailor-made technique and have been in a position to generate a number of aggressive affords inside the first 30 days,” mentioned Lucas Mondino. “Regardless of historic operational challenges, the property’s location, land measurement, and upside potential drove sturdy investor curiosity.”
Initially inbuilt 1973, Southern Oaks Inn sits on roughly 5.75 acres. The lodge’s two-story, exterior-corridor structure affords ease of entry for leisure vacationers and teams. The property supplies proximity to St. Augustine sights.
The vendor, an absentee tech-sector possession group, invested considerably lately, together with full roof replacements and mould remediation/renovation work following short-term income declines.
“St. Augustine stays one in every of Florida’s most resilient secondary markets—excessive ADRs, walkability, and improvement restrictions make it an investor favourite,” mentioned Ahmed Kabani, founder and chief govt officer of Kabani Resort Group. “We’re proud to ship outcomes that align with our purchasers’ expectations and market timing.”
