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251 North Narcissus Avenue

Stephen Ross Of Related Ross Acquires The Ben Hotel From Wheelock Street Capital In West Palm Beach
SOLDHotel

Stephen Ross Of Related Ross Acquires The Ben Hotel From Wheelock Street Capital In West Palm Beach

251 North Narcissus Avenue

Building Size

Asset Type

Hotel

Closing

Feb 27, 2026

AI

The Ben Hotel is a Marriott-branded hotel situated at 251 North Narcissus Avenue, West Palm Beach. The hotel features 208 keys and is part of the Banyan Square mixed-use project, which is located near the Intracoastal Waterway. This asset was opened in 2020 and represents a strategic acquisition within a rising tourism market in Palm Beach County.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: Not disclosed
  • Address: 251 North Narcissus Avenue
  • Market: West Palm Beach
  • Asset Type: Hotel
  • Keys: 208
  • Buyer: Stephen Ross - Related Ross
  • Seller: Merrick Kleeman & Jonathan Paul - Wheelock Street Capital
  • Broker: Robert J. Webster, Ron Danko & Timothy Southard - CBRE
  • Transaction Date: February 26, 2026

Related Ross's acquisition of The Ben Hotel enhances their portfolio within downtown West Palm Beach, leveraging the growing demand for tourism in the area. The deal was facilitated by brokers Robert J. Webster, Ron Danko, and Timothy Southard from CBRE, representing the respective parties in this transaction.

Players

Ron Danko

CBRE

Broker

$394.4M

vol

6 deals

Broker
Stephen Ross

Stephen Ross

Related Ross

Buyer

$5.2B

vol

48 deals

Buyer
Merrick Kleeman

Merrick Kleeman

Wheelock Street Capital

Seller

$553.4M

vol

8 deals

Seller

West Palm Beach Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93