MIAMI-A West Cost investor has acquired the Hotel Eva on South Beach for $11 million.
The hotel was sold by Ventura Way LLC, which is managed by Orlando J. Vales, to J3 Collins Ave LLC, managed by Snohomish, WA-based investor James B. Potter, according to the South Florida Business Journal.
The 29-room Hotel Eva was built in 1992 and underwent a number of renovations by Ventura Way, which acquired the property in 2008 for $5.8 million.
TotalBank of Miami provided a $6.5-million mortgage to the buyer in connection with the purchase. See story in the South Florida Business Journal.
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