MIAMI BEACH, FL— R. Donahue Peebles has signed a definitive agreement through which the owner will sell the Royal Palm Crowne Plaza Resort here to the Falor Companies. The deal is expected to close in January and terms were not disclosed. Falor is currently looking for a new operator for the property, which will be partially converted into a condo-hotel. Falor also plans on putting $10 million into the property for renovations and upgrades. Dianna Cheng is the exclusive broker on the deal for the hotel, which currently contains 417 rooms.
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