Auburn-based developer George Schott is now the official owner of the 248- room hotel at Brunswick Landing.

Schott finalized the purchase of the 14.7- acre former Navy Hotel property Friday from Midcoast Regional Redevelopment Authority, the property’s de facto owner, for $3.4 million.

MRRA was created by state lawmakers as a vehicle for transforming the former base into a planned commercial, industrial and recreational area. MRRA inherited the hotel from the U.S. Navy after the former Brunswick Naval Air Station was decommissioned.

Other than serving as temporary living quarters for disaster response exercises in November, the hotel — thought to be one of the Mid-coast’s largest — has sat largely dormant since the Navy left town in 2011. Attempts to market the property to hotel operators fell flat, with potential suitors telling MRRA there’s already too much supply of hotel rooms, with occupancy averaging only half of all rooms in the region at any time.

Schott, who already has acquired much of the former military housing in Brunswick, plans to lease the hotel rooms and other Brunswick Landing housing units back to the Navy, to house sailors whose ships are undergoing construction or repairs at Bath Iron Works.

Some of the crew that will operate the first Zumwalt-class DDG-1000 destroyer now being finished in the Bath shipyard already have taken up residence in the former base housing along Neptune Drive.

The hotel is the latest acquisition by Affordable Mid Coast Housing, the corporation created by Schott to acquire, rehabilitate and lease or sell the former military real estate.

Earlier this year, Schott also bought more than 200 adjacent units in the former bachelor’s living quarters along Neptune Drive and straddling Pegasus Street. The units, too, are managed day-to-day by Schott Property Management. That deal was worth $2.6 million.

jtleonard@timesrecord.com

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