The assets did even better 10 years ago when they were on the selling block. They sold for $6.85 million or $182.44 per sf. Riviera Resort Club Developers, headed by John Day and Patrick J. Flavin, bought the motels from Bahia Cabana.
Bridgeview Bank & Trust of Bridgeview, IL provided financing of $3.5 million. The buildings were constructed in four stages beginning in 1956 and ending in 1964.
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