Courtyard hotel in Coral Springs sold for $12.5 million
Source: http://www.sun-sentinel.com/business/fl-bz-courtyard-marriott-coral-springs-sold-20170817-story.html
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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.
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