Beach community hotel sells for $3.7 million

BRADENTON BEACH — Raps Development LLC recently sold the 20,996-square-foot, 14-unit Beach Club at Anna Maria hotel in Bradenton Beach for $3.7 million. 

The buyer was Jacaranda Partners LLC. It plans to keep the property as is, increasing revenue through capital improvements and marketing, according to a press release. 

Senior Advisor Mike Migone of SVN Commercial Advisory Group coordinated the sale. 

“AMI Beach Club is an established hotel with consistent cash flow performance," says Migone in the statement. "The location, quality condition and historical income generated by the resort was what attracted the buyer to this asset."