JLL closes sale of Diplomat Beach Resort in Florida; third largest single-asset hotel sale ever in the U.S.

JLL closes sale of Diplomat Beach Resort in Florida; third largest single-asset hotel sale ever in the U.S.

JLL’s Accommodations & Hospitality Group led the profits attempts for the 1,000-vital beachfront resort in Hollywood, Florida

MIAMI, Feb. 6, 2023 /PRNewswire/ — JLL’s Lodges & Hospitality Team announced currently that it shut the sale of the Diplomat Beach Resort, an award-successful beachfront resort with 1,000 guest rooms in Hollywood, Florida.

JLL represented the vendor, Brookfield Attributes, in the transaction. A joint venture in between Credit rating Suisse Asset Management and Trinity Fund Advisors LLC acquired the resort. The new owners also declared the signing of a management arrangement with Hilton Inns and Resorts to oversee the resort’s procedure under the Curio Assortment by Hilton brand.

Extensively renovated and repositioned by means of a comprehensive $90 million greenback money approach in 2018, the Diplomat Beach front Vacation resort is unmatched as a globe-course beachfront conference and gatherings-centered vacation resort. The resort characteristics 1,000 traditional guest rooms and suites and 200,000 square feet of built-in meeting and occasions area. The property consists of a twin-spired, 33-story tower housing the lodge rooms, a 14,000-sq.-foot spa, eight restaurants and bars plus numerous swimming pools and cascading waterfalls. On top of that, the assets is positioned on 10 acres of Atlantic Ocean beachfront presenting kayaking, paddleboarding and jet ski rentals.  

The JLL Lodges & Hospitality workforce symbolizing the seller was led by Senior Controlling Directors Jeffrey Davis and Gregory Rumpel, Americas CEO Kevin Davis and World CEO Gilda Perez-Alvarado.

“Above the final few months of 2022, U.S. team demand arrived at 93{e9f0aada585b9d73d0d08d3c277fd760092386ec23cac37d50f4b8cd792b062a} of 2019 levels and we forecast even additional acceleration through 2023, driven predominantly by upscale and upper upscale hotels,” Jeffrey Davis claimed. “The sale of the Diplomat was the 3rd most significant solitary-asset hotel sale ever in the U.S and it’s actually a get-get for each the vendor and the prospective buyers.”

The Diplomat Seaside Resort is preferably found in between the two most important airports in South Florida, Fort Lauderdale/Hollywood Intercontinental Airport (10 minutes) and Miami International Airport (30 minutes), affording the vacation resort unparalleled accessibility to guests from important marketplaces all over the U.S., Latin The us and Europe. The resort is known for its substantial offerings and several award-profitable recognitions and accolades, together with being awarded 2019 Ideal Loved ones Resort by Travvy Awards, Just one of the Leading Resorts in Florida by Conde Nast Traveler in 2018 and is the receiver of the AAA Four Diamonds Award®.

The Diplomat Beach front Resort signifies the 3rd largest one-asset lodge sale ever in U.S. heritage, building a solid assertion about the longevity and economic muscle of South Florida. The South Florida lodging sector observed a remarkable recovery submit-Covid producing it a single of the very best-undertaking resort marketplaces in the region, benefitting considerably from an improve in leisure journey, restoration of group need and the sizeable demographic shift into South Florida supported this landmark trade.

JLL’s Motels & Hospitality Team has concluded extra transactions than any other lodges and hospitality true estate advisor about the previous 5 decades, totaling $83 billion around the globe. The group’s 350-solid worldwide group in more than 20 international locations also shut much more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset administration and consultancy expert services have aided additional hotel buyers, homeowners and operators obtain higher returns on their belongings than any other true estate advisor in the earth.

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About Credit Suisse Asset Management
Credit rating Suisse Asset Management is part of the Asset Administration division of Credit Suisse Group. Asset Management manages assets well worth above CHF 411.3 bn worldwide (as of September 30, 2022). Backed by the global current market presence of Credit score Suisse Group, Asset Administration delivers active and passive solutions for conventional and option investments as nicely as verified item experience in Switzerland, EMEA, APAC, and the Americas. Wonderful importance is attached to sustainability. We offer you a wide selection of lively and passive financial commitment resources that comply with the Credit rating Suisse Sustainable Financial investment Framework or replicate a sustainable index. In undertaking so, we pursue differing strategies, in which environmental, social and governance (ESG) criteria are used at numerous factors in the expense process.

About Trinity Fund Advisors LLC
Trinity is a private genuine estate investment business with a 26-yr record of specializing in benefit-include alternatives. Based in Honolulu, Hawaii, with an workplace in Beverly Hills, California, Trinity focuses on distinctive authentic estate investments in globe-class markets and has invested far more than $8 billion in the United States, Mexico, Europe, and Japan by leveraging its deep institutional understanding and longstanding neighborhood associations. Trinity is primarily based in Honolulu, Hawaii, with an office in Beverly Hills, California. For further information and facts, please pay a visit to Trinity’s web site at www.trinityinvestments.com.

About JLL
JLL (NYSE: JLL) is a main expert companies agency that specializes in authentic estate and financial investment administration. JLL designs the potential of real estate for a far better environment by utilizing the most innovative technological innovation to generate fulfilling opportunities, wonderful areas and sustainable genuine estate answers for our clients, our folks and our communities. JLL is a Fortune 500 corporation with annual income of $19.4 billion, functions in above 80 nations and a world wide workforce of far more than 102,000 as of September 30, 2022. JLL is the model name, and a registered trademark, of Jones Lang LaSalle Integrated. For further facts, check out jll.com.

Speak to: Cierra Lacasse, JLL Associate, General public Relations
Cell phone: +1 602 648 8701
E-mail:  [email protected]

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