Ocean Properties buys out Zota Beach Resort partner

Rockwood Capital had provided funding for two dozen hotels beginning in 2007

  • By Kevin McQuaid
  • | 6:00 a.m. March 20, 2020
  • | 0 Free Articles Remaining!
COURTESY PHOTO— Ocean Properties' rebranded the former Longboat Key Hilton in 2017 as the Zota Beach Resort, with the addition of 84 new rooms and amenities.
COURTESY PHOTO— Ocean Properties' rebranded the former Longboat Key Hilton in 2017 as the Zota Beach Resort, with the addition of 84 new rooms and amenities.
  • Commercial Real Estate
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Ocean Properties Hotels & Resorts has bought out its financial partner in a Longboat Key resort, a sign of its confidence in the Gulf Coast hospitality market going forward.

The deal involving the Zota Beach Resort, at 4711 Gulf of Mexico Drive, was one of two dozen Ocean Properties’ lodging assets in six states that Los Angeles-based Rockwood Capital invested in in 2007, records show.

 

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