Brasswater Buys Two Hampton Inns in Palm Beach County for $48M

Brasswater, a Montreal investment firm, has paid more than $48 million combined for two Hampton Inn hotels in Palm Beach County, picking up the Hilton-branded properties from Hospitality Investors Trust, per Commercial Observer.

Why it matters

The deal adds a Canadian buyer to a South Florida hotel market that has mostly traded among domestic operators and REITs this year. Brasswater is taking on two stabilized, limited-service assets near major commuter corridors rather than chasing a ground-up build, a sign that investors still see yield in existing branded hotel stock even as new supply slows. The seller, Fairfax, Virginia-based Hospitality Investors Trust, originally bought both properties in 2015 for a combined $43.6 million, so the sale also marks an exit after roughly a decade of ownership.

The numbers

Commercial Observer, citing property records, reported Brasswater paid at least $29 million for the 164-room Hampton Inn & Suites Boynton Beach at 1475 Gateway Boulevard and more than $19 million for the 110-room Hampton Inn West Palm Beach Florida Turnpike at 2025 Vista Parkway, putting the combined price above $48 million. The outlet noted the real total is likely higher, since the deeds reviewed do not capture furniture, fixtures or the hotels’ business operations. New York-based lender Axonic Capital provided a debt package totaling $42.2 million to finance the acquisition of both properties.

What’s next

Neither Brasswater nor Hospitality Investors Trust detailed plans for the two hotels following the closing, and Commercial Observer did not report a specific closing date beyond its October 21 publication. The purchase keeps both Hampton Inns under the Hilton flag for now. Watch for permit or renovation filings with Palm Beach County as an early signal of whether Brasswater plans to reposition either property, a pattern seen elsewhere in South Florida hospitality deals this year.