Boykin Lodging Purchases Banana Bay Resort in Keys

Real-estate investment company Boykin Lodging announced Friday that it purchased Banana Bay Resort & Marina-Marathon in the Florida Keys for $12 million. The 65-room, 10-acre property is located on the Gulf of Mexico, and includes a pool, whirlpool, tennis courts, marina and launching ramp, conference rooms and a wedding gazebo. Boykin, a 50 percent owner of the joint venture that acquired the property, said it intends to redevelop the property as a condo-hotel project.