The Real Deal Miami

Hotel near Sawgrass Mills sells for $35M

DoubleTree by Hilton in Sunrise acquired by San Diego-based investor
By Eric Kalis | May 29, 2014 11:15AM

DoubleTree by Hilton Sunrise

DoubleTree by Hilton Sunrise

The DoubleTree by Hilton hotel across from the Sawgrass Mills mall traded for more than $35 million, The Real Deal has learned.

Boston-based GFII DVI Cardel Sawgrass sold the 250-room hotel in Sunrise on Wednesday, according to Broward County records. It paid $32.4 million for the 13400 West Sunrise Boulevard property in May 2006. The hotel was constructed in 2002.

SWVP Sawgrass Mills of San Diego is the buyer. The company obtained a $20.5 million loan from U.S. Bank N.A. for the acquisition.

The Sunrise hotel is the second DoubleTree-branded property to change hands in South Florida in the last month. Schulte Hospitality Group of Louisville, Ky. paid $15 million for the DoubleTree by Hilton West Palm Beach Airport on April 22.