May 25–The Courtyard by Marriott Fort Lauderdale Beach hotel has changed ownership in a $82.8 million transaction, property deeds filed Wednesday in Broward County show.
The new owner of the 261-room, 12-story hotel at 440 Seabreeze Blvd. is Summit Hospitality 134 LLC, according to county records. The seller was PHF Oceanfront LP, an affiliate of San Francisco-based Fillmore Capital Partners.
Summit Hospitality has ties to Austin, Texas-based Summit Hotel Properties, a publicly-traded real estate investment trust with a portfolio of 75 hotels in 22 states as of May 15, according to its website.
Among Summit's hotel portfolio are five Florida properties including the Hyatt House Miami Airport.
PHF Oceanfront purchased the Courtyard's property, the former Oceanfront Hotel, in July 2005 for $34.8 million, property records show. The Oceanfront had closed in 2005 after sustaining damage from Hurricane Wilma.
The new Courtyard opened in October 2007, sporting high-end guest room features and amenities such as granite bathroom counter tops and Cuisinart coffee-makers not typically seen in other hotels in the mid-scale Marriott lodging brand. Unlike many Courtyards, it has a full-service restaurant and room service for meals.
The hotel underwent a $5 million facelift in 2014, which included upgrades to its rooms, public areas, restrooms, exterior building, grounds, restaurant and Wi-Fi internet platform.
Staff researcher Barbara Hijek contributed to this report.
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