Courtyard Marriott in Coral Springs flips at loss

Courtyard Marriott in Coral Springs
Courtyard Marriott in Coral Springs

A Courtyard Marriott in Broward sold for $100,000 less than its last sale price — in January of this year.

New York-based Garrison Investment Group sold the nearly 3-acre site to an affiliate of Vista Hospitality, a Canadian real estate investment company. Vista obtained a $5.6 million mortgage from BankUnited, records show.

The 110-room hotel traded hands for $6.9 million this week, according to Broward County records. In January, Garrison paid $7 million for the site. Before that, the hotel sold for $6 million in June 2007.

The four-story building, built in 2001, sits on a 124,954-square-foot lot at 620 North University Drive. It’s located south of West Atlantic Boulevard and west of North University Drive. The hotel has a fitness center, outdoor pool, whirlpool and restaurant.

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Vista Hospitality owns hotels in Orlando, Kissimmee, Ontario, Quebec and New York, according to the company’s website.

Garrison’s CFO, Brian Chase, signed the deed transfer. In June 2014, a company tied to Garrison Investment Group sold a Hialeah Ramada Inn for $13.5 million.