The Ocean Club of Deerfield Beach is a 30 unit condo conversion project located in Deerfield Beach, Florida, which is just south of Boca Raton. This property was chosen for its outstanding beachfront location in an emerging market in southeast Florida that is experiencing a complete renaissance at this time. All aspects of the area are being revitalized and renewed.

The property itself is centered in the heart of "The Gold Coast" on one of Florida's finest beaches. All 30 units are luxurious oceanfront suites with balconies that overlook the Atlantic Ocean. Ocean Terrace Suites, as it is called today, is a residential hotel. Its valued guests are those who have enjoyed the property over three decades. The property closed on December 17, 2004 and is still functioning as a hotel at this time. However, renovation and condominium conversion is scheduled to begin in May 2005 and the unit sales process has already begun.

Richard Zahn of Hersh Construction is our local partner and will manage the renovation process.

Executive Summary

Address
2080 East Hillsboro Boulevard
Deerfield Beach, FL 33441
Description
This premier beach front vacation hotel is in the heart of the "Gold Coast," on one of Florida's finest beaches. Enjoy the serenity of the ocean, walk the popular boardwalk or participate in the many water recreational activities, which include swimming, scuba diving, snorkeling and surfing.
Location
Deerfield Beach is just south of Boca Raton off Route 1.
Investment Rationale
Ocean front location and local area renaissance.
 
Number of Units
30
Web Site
www.ocean-terracesuites.com