FORT LAUDERDALE, FL– Vililas by the Sea, a 132-unit, two story hotel was sold for $14.5 million and is now the focal point of a redevelopment plan. Hapimag Vacations Corp. sold the property to Village by the Sea Development LLC for about $109,848 per unit. The new owner has plans to redevelop the property into a mixed use, luxury facility. The hotels units are currently set in six buildings on six acres of land divided into four parcels with 500 feet of Atlantic Ocean frontage. Other property amenities include five swimming pools, a whirlpool, restaurant, beachfront bar, meeting rooms, on-site laundry facilities and barbecue grills.
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