The Wright by the Sea hotel along the ocean in Delray Beach sold for $25 million, or $862,069 per room.
Wright Southern Inc., managed by Dorothea G. Vela, sold the 29-room hotel at 1901 S. Ocean Blvd. and 0.57 acres of vacant land at 1060 Del Harbor Drive to Wright by the Sea 1901 LLC, an affiliate of New Jersey-based National Realty Investment Advisors. The buyer received a $22 million mortgage from affiliates of New York-based Ares Commercial Real Estate Management.
