ATLANTA COMPANY BUYS FLORIDA RESORT FOR $22.4 MILLION

FORT LAUDERDALE, FLA. — Atlanta-based Urbana Investments has purchased the 159-unit Pelican Grand Beach Resort, located at 2000 N. Ocean Blvd. in Fort Lauderdale, from the original owner’s lender for $22.4 million. Miami Beach-based Boutique Hospitality Management will manage the 4-year-old property.