The Diplomat Beach Resort in Hollywood, Fla., is a 1,000-room lush resort located on South Florida's ocean front. Two institutional investors have announced they have purchased the complex, and although they did not reveal the price, the Wall Street Journal reported it was under contract for $835 million last week.
The buyers, a joint venture between non-US offered real estate funds managed by Credit Suisse Asset Management and real estate funds managed by Trinity Fund Advisors LLC, did note, however, that the acquisition is one of the largest hotel deals in the US since August 2021.
The seller was a Brookfield private real estate fund.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
