MIAMI, December 2, 2021 / PRNewswire / – Key International, a leading international property development and investment firm, and Wexford Real Estate Investors (WREI) have acquired the Fort Lauderdale Marriott Pompano Beach Resort & Spa, a beachfront hotel comprised of of 219 suites located at 1200 N. Boulevard de l’OcÃ©an
APEX Capital Realty’s specialized welcome team identified the opportunity to trade this iconic waterfront asset. Miguel Pinto, President / Managing Broker of APEX Capital Realty, and Garrick benabe, Director of Hospitality Investments represented the vendors Pompano Hotel I LLC et al. Miguel Pinto, Garrick benabe, and Ovy anghel, Business Advisor at APEX Capital Realty represented Key International in this historic off-market transaction.
âWe have seen a strong demand for investment opportunities in the value-added hotel industry. South florida continues to attract increased tourism, developers and investors are looking to reposition and modernize waterfront properties. There is a significant benefit available in redeveloping the amenities and restaurant operations that will serve the new wave of high demographics visiting South florida. ” Said Miguel Pinto.
Key International and WREI are planning a major renovation to the property, which is located directly on the sand, a short walk from the recently built fishing village of Pompano Beach. Together, the companies plan to transform the property into a beachfront destination by creating a new resort-style pool deck and renovating the in-room product as well as the on-site restaurant.
“Pompano Beach is a destination of the future in the South florida market and we are delighted to add a beachfront hotel with so much potential to our portfolio, âsaid Michel Vassilaro, Director of Investments at Key International. “We expect the demand for resort-style beachfront experiences to continue to grow and our planned renovations to the property will truly enhance the guest experience.”
The city of Pompano Beach recently invested $ 80 million in a beachfront renovation that unveiled a new seaside park promenade with several family attractions, state-of-the-art Pompano Beach fishing pier and a new parking garage structure with a visitor center. The city should welcome by 2025 a new urban city center, versatile and friendly for pedestrians.
Facilities at the Fort Lauderdale Marriott Pompano Beach Resort & Spa include a state-of-the-art spa offering a range of wellness treatments, a waterfront fitness center, two on-site restaurants overlooking the coast, and equipped event spaces. to accommodate up to 300 guests.
The hotel marks the latest addition to a long-term partnership between Key International and WREI. Together the companies have developed several beachfront hotel properties with current assets in Panama City Beach, Jacksonville, and Fort Lauderdale.
About Key International
Key International is a full-service real estate company bringing over 30 years of leadership and success in global investments and developments, with offices in Miami and Madrid. With a proven track record of generating excellent returns for partners, the company specializes in real estate projects that enhance clients’ lifestyles through prime locations and quality products. This includes forward thinking considerations for everyday life, work, convenience, entertainment and leisure. Following these principles, Key International is one of the few real estate companies to have demonstrated its ability to succeed in multiple categories of real estate – including condominiums, hotels, multi-family housing and offices. Such diversification is the cornerstone of its approach and serves to maximize future development and investment opportunities.
With over 10 million square feet of residential development, notable projects include Eden Roc Resort Miami Beach, Marriott Stanton Hotel South Beach, 400 Sunny Isles, 1010 Brickell, and the Riverfront Community Master Plan (a 13.5-acre gated community in Miami downtown). In addition, Key International manages more than $ 1.5 billion in the assets of its current hotel portfolio made up of more than 3,000 hotel units. keyint.com
Wexford Real Estate Investors (âWREIâ) was previously the private market real estate investment arm of Wexford Capital LP (âWCLPâ) and in 2020 emerged from WCLP as a dedicated and stand-alone real estate platform. WREI seeks out, invests and executes value and growth driven real estate transactions using an opportunistic investment philosophy. WREI is currently focusing its investments in the solar belt markets with an emphasis on residential rental investments and condominiums, and has invested more than $ 650 million in equity since 2010 in real estate transactions with a total value greater than $ 1.4 billion. https://www.wexfordrei.com.
About APEX Capital Realty
APEX Capital Realty is an independent commercial real estate brokerage firm like no other. She specializes in research and creation south florida the most unique and lucrative opportunities in the market. APEX Capital Realty is made up of experts and industry disruptors who have an unrivaled understanding of the unique dynamics and trends that drive the local real estate market. Its focused range of services is a testament to our extensive knowledge of the industry. www.apexcapitalrealty.com.
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SOURCE Apex Capital Realty