UNITED CAPITAL BUYS OCEAN PLACE RESORT & SPA

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LONG BRANCH, N.J. — United Capital Corp. has purchased the 12-story Ocean Place Resort & Spa in Long Branch. The 254-room hotel includes 40,000 square feet of meeting and event space, a private beach, two restaurants and a fitness facility. United Capital plans to invest $15 million in renovations to the property. The New York-based company also owns and operates hotels in Windsor Locks, Conn.; Utica, N.Y.; Nashua, N.H.; as well as Atlanta and Miami. Additional terms of the deal were undisclosed.

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