Marriott hotel in Pompano sells for $45M

Hotel Business News:  Pan Am Equities paid $45.15 million for the Fort Lauderdale Marriott Pompano Beach Resort & Spa. The 219-key hotel at 1200 North Ocean Boulevard in Pompano Beach sold for about $206,00 per room.

The 184,000-square-foot hotel includes about 8,000 square feet of meeting space and sits on nearly 3 acres of beachfront land. Carlyle and Urgo paid $8.55 million for the site in 2010 and completed the hotel in 2013, according to property records.

The property was the first new hotel to be built in the area since 2002. A number of Miami developers have plans for new beachfront projects in Pompano, including Lionheart Capital, Dev Motwani and the Related Group.

Pan Am Equities is a real estate development and management company owned by the Manocherian family, which owns high-end properties throughout Manhattan, including the New York Health and Racquet Club.

Source Credit: The Real Deal South Florida 

Photo Credit: Fort Lauderdale Marriott Pompano Beach Resort & Spa