The Southern Oaks Inn, a 124-room hotel located on North Ponce de Leon Boulevard in St. Augustine, has been sold for $12.5 million, according to Kabani Hotel Group, which brokered the deal.
The sale price equals about $100,800 per room.
The property, originally built in 1973, sits on roughly 5.75 acres and includes 56,834 square feet of building space.
The hotel closed at well over its $11 million asking price.
The buyer is listed as Jagdish LLC, while the seller, 2800 Partners LLC, had owned the hotel since purchasing it for $3.15 million in 2013.
The two-story, exterior-corridor hotel has undergone several improvements in recent years, including full roof replacements and mold remediation, following a period of declining revenue.
The seller, described as an absentee ownership group with ties to the tech sector, made the investments to stabilize operations and preserve the asset’s condition.
Kabani Hotel Group partner Lucas Mondino, who handled the transaction, said the property attracted multiple offers within the first month of listing, citing its size, location, and redevelopment potential as key draws for investors.
“St. Augustine remains one of Florida’s most resilient secondary markets—high ADRs, walkability, and development restrictions make it an investor favorite,” said Ahmed Kabani, founder and chief executive officer of Kabani Hotel Group, according to Lodgin Magazine “We’re proud to deliver results that align with our clients’ expectations and market timing.”
