Bankruptcy court finally approves sale of Fort Lauderdale hotel project

Bankruptcy court finally approves sale of Fort Lauderdale hotel project

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550 Seabreeze Hotel project in Fort Lauderdale BeachRobert Indeglia, co-founder of Magna Hospitality Group 

Rhode Island-based hospitality company paying $39.1M for the unfinished 12-story, 136-room hotel

A U.S. Bankruptcy Court just approved the sale of the unfinished 550 Seabreeze Boulevard hotel in Fort Lauderdale Beach to a subsidiary of Magna Hospitality Group for $39.1 million.

The approval comes days after the project failed to receive any qualified bidders for the planned 12-story, 136-room hotel, canceling the auction last week.


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