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South Florida

Sunrise Holiday Inn sells for $10.5M

Holiday Inn at 3003 North University Drive in Sunrise
Holiday Inn at 3003 North University Drive in Sunrise

A Holiday Inn in Sunrise sold for $10.5 million on Dec. 31.

Beverly Hillls-based Latitude Management Real Estate Investors Inc. sold the 177,983-square-foot building to Sawgrass Grand Fee Owner LLC, according to Broward County records.

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The property, located at 3003 North University Drive, last sold in December 2009 for $13.8 million. The hotel has 300 rooms and was built in 1987.

Sawgrass Fee Owner LLC secured a $9 million mortgage from First Key Lending on Dec. 30.

Jeff Krinsky is listed as a registered agent for the buyer. Krinsky is a principal of Carmichael Hospitality Partners LLC, a South Florida joint venture that focuses on the ownership and adaptive reuse of office buildings into full and limited service hotels. He’s also managing principal of Panther Capital Management, a diversified real estate company.

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Hotels