Courtyard at beach sells for $82.8M

The former Oceanfront Hotel last sold in 2005 for $34.8 million

The Courtyard byMarriott Fort Lauderdale Beach hotel has changed ownership in a$82.8 million transaction, property deeds filed Wednesday in Broward County show.

The new owner of the 261-room, seven-story hotel at 440 Seabreeze Blvd. is Summit Hospitality 134 LLC, according to county records. ThesellerwasPHF Oceanfront LP, an affiliate of San Francisco-based Fillmore Capital Partners.

Summit Hospitality has ties to Austin, Texas-based Summit Hotel Properties, a publicly traded real estate investment trust with a portfolio of 75 hotels in 22 states as of May 15, according to itswebsite.

Among Summit’s hotel portfolio are five Florida properties including the Hyatt House Miami Airport.

PHF Oceanfront purchased the Courtyard’s property, the former OceanfrontHotel, in July 2005 for $34.8 million, property records show. TheOceanfront had closed in 2005 after sustaining damage from HurricaneWilma.

The new Courtyard opened in October 2007, sporting high-end guest room features and amenities such as granite bathroom counter tops and Cuisinart coffee-makers not typically seen in other hotels in the mid-scaleMarriott lodging brand. Unlike many Courtyards, it has a full-service restaurant and roomservice for meals.

The hotel underwent a $5 million facelift in 2014, which included upgrades to its rooms, public areas, restrooms, exterior building, grounds, restaurantandWiFi internet platform.

Staff researcher Barbara Hijek contributed to this report.

asatchell@sun-sentinel .com, 954-356-4209 or Twitter@TheSatchreport