Three Wall Capital Acquires Three Marriott-Branded Hotels In Broward County For $64.29M From Blackstone

The New York-based hospitality firm, Three Wall Capital, has acquired three Marriott-branded hotels in suburban Broward County for $64.29 million from Blackstone affiliate BCORE Select Raven. The hotels are located at 130 North University Drive - Residence Inn by Marriott Fort Lauderdale Plantation, 14500 Hotel Road - Courtyard by Marriott Miramar, and 14700 Hotel Road - Residence Inn by Marriott Miramar. The total land area of the property is 10.87 acres.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $64,290,000
• Buyer: Three Wall Capital
• Seller: Blackstone - Stephen A. Schwarzman
• Lender: Guggenheim Real Estate
• Keys: 393
• Price per Key: $163,588
• Square Footage: 270,574
• Price per Square Foot: $238

This transaction reflects Three Wall Capital's confidence in the post-pandemic potential of the suburban Broward hotel market. The sale of these Marriott-branded hotels showcases the investor's interest in the hospitality sector in Broward County.