Courtyard hotel in Coral Springs sold for $12.5 million
Bryan Gipson, an Orlando-based director at HTL Hospitality Advisors, listed the hotel and sourced its buyer for a total transaction price of $16.25 million, the brokerage and consulting firm announced Wednesday.
That total price tag included value of the franchise contract, inventory, furnishings and other intangibles, Gipson said Thursday.
“Typically you’re buying more than just a brick and mortar building and land, when you’re buying a hotel,” he said. Altogether that means Vista more than doubled its investment when it sold the hotel to Boulder Hotel Coral Springs LLC.
Boulder Hotel is controlled by entrepreneur Malcolm Berman, according to Florida corporation records.
The four-story, 110-room Coral Springs hotel was built in 2001, according to county appraisal records.
Today, the hotel boasts a new lobby design, dining venue called The Bistro for breakfast and dinner, fitness center, outdoor pool and 1,056 square feet of meeting space.
Another Courtyard Marriott in Broward also changed ownership this year. In May, the 261-room Courtyard by Marriott Fort Lauderdale Beach was sold for nearly $83 million.
About Empire Appraisal Group, Inc.
Empire Appraisal Group, Inc. has been helping people make informed real estate decisions since 2005. They are Broward County’s leading residential appraisal company as a result of their accurate and reliable appraisals, excellent customer service, and quick turn times. When working with an appraiser, integrity and professionalism are essential, and Empire Appraisal Group has a well-established reputation for providing the best appraisal experience. Daniel Lindeman, the Chief Appraiser, is considered one of the top property appraisers in Florida, with nearly 15 years of expertise and 8,000+ appraisals to his credit.
We ‘specialize’ in helping people who need appraisals for estate purposes, divorce, bankruptcy, FSBO’s and more.
We also work closely with realtors to help establish listing prices, these pre-listing appraisals ensures sellers get top dollar for their home.
In addition, to homes of all shapes and sizes, we also appraise condos, multifamily homes, boat docks, land, as well as specialty properties. No job is too big or too small, from manufactured homes to mansions.
Call Empire Appraisal Group directly with any questions concerning your real estate values at 561-441-9298. Also, check out our ‘Reviews’ page and see what others are saying about Daniel Lindeman and Empire Appraisal Group, Inc.
We provide residential appraisal services to all cities in Broward County: Parkland, Coral Springs, Coconut Creek, Dania Beach, Cooper City, Davie, Deerfield Beach, Fort Lauderdale, Sunrise, Hallandale Beach, Hillsboro Beach, Hollywood, Lauderdale by the Sea, Lauderdale Lakes, Lauderhill, Lighthouse Point, Margate, Miramar, North Lauderdale, Oakland Park, Pembroke Pines, Plantation, Pompano Beach, Sea Ranch Lakes, Tamarac, Weston, Wilton Manors.