News

22 Nov2019

TownePlace Suites by Marriott Fort Lauderdale Weston Sold by Hunter Hotel Advisors Team

Hunter Hotel Advisors announces the sale of the TownePlace Suites by Marriott Fort Lauderdale Weston to GB Companies, LLC, a real estate investment group with property holdings in Florida, Georgia, Nevada and Colorado. The seller is an institutional client.

Trey Scott and Shamir Patel led the Hunter team in the valuation and sale of the property. This is the 14th hotel the firm has sold for this institutional client this year.

 “It was an honor for Hunter Hotel Advisors to represent two long time clients of the firm. Weston is a very unique market with an almost impossible barrier to entry. You couple that with a strong Marriott flag, and you have a recipe for success. I am very much looking forward to seeing what the property looks like a year from now, after the new buyers put their magic touch on it." – Shamir Patel, Vice President, Hunter Hotel Advisors.

After careful selection, partners Oscar Vila and Gustavo Blanco chose this particular asset due to several important factors:  lack of available land in Weston on which to build competing product, a strong extended stay brand and availability of 2-bedroom suites favored by families using the property.

The hotel is located in Weston, Florida, a community in Broward County ranked as 19th in the US for “biggest earners” residents and the city with the largest job growth in Florida (Money Magazine).  Located in the heart of town square shopping and restaurants, near the Cleveland Clinic, several large employers located in the submarket and proximity to Everglades National Park and the Everglades Parkway (I-75) portend strong demand generators. 

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