The Real Deal Miami

Everwood Hospitality Partners buys Sheraton Suites in Plantation for $25M

Fillmore Capital Partners sold the hotel to Everwood Hospitality Partners
By Amanda Rabines | January 18, 2018 10:30AM

Sheraton Suites Plantation and EHP’s Amit Govin (Credit: Sheraton Suites Plantation and LinkedIn)

An affiliate of San Francisco-based Fillmore Capital Partners just sold the Sheraton Suites hotel in Plantation for $24.7 million, property records show.

EHP Plantation Ventures, an affiliate of Columbus, Indiana-based Everwood Hospitality Partners, paid nearly $94,000 per key for the 264-room hotel at 311 North University Drive. Records show EHP financed the deal with a $23 million loan from Benefit Street Partners Realty Operating Partnership.

The hotel was built in 1991. Fillmore Capital Partners paid $23.3 million for the property in 2005, records show.

Sheraton Suites Plantation is near Art Falcone’s Plantation Walk development site, where Falcone’s Encore Capital Management is building a $350 million mixed-use project that will include 700 apartments, plus 200,000 square feet of retail stores and restaurants.

Amit Govin founded Everwood Hospitality Partners in 2014. The company has since invested more than $300 million in hotels throughout the country, according to its website.

Other recent hotel investment sales in South Florida include Ocean Properties Hotels Resorts & Affiliates’ $49 million purchase of the Jupiter Beach Resort & Spa and Rockbridge Capital’s $29 million acquisition of the Palm Beach Gardens Marriott.