Rockwood Capital Sells Jupiter Beach Resort for $49 Million to Ocean Properties Ltd.
Jeff Ostrowski | The Palm Beach Post, Fla. | January 3, 2018 3:48pm
Jan. 02--The Jupiter Beach Resort has changed hands for $49 million, according to property records. The 168-room hotel last sold in 2007 for $21.9 million.
The seller was Rockwood Capital of New York. The buyer is Ocean Properties Ltd. of Delray Beach.
Ocean Properties took out a $48 million mortgage from the Bank of New Hampshire.
Jupiter Beach Resort was built in 1975. The property recently was named one of the top resorts in Florida by readers of Conde Nast Traveler.
The resort was the second high-profile hotel in northern Palm Beach County to change hands at the end of 2017. The Palm Beach Gardens Marriott sold for $29 million and could be poised for a major renovation.