Pan Am Equities buys oceanfront Marriott hotel in Pompano for $45M
Carlyle Group sold the oceanfront hotel for $206k per key
A company tied to New York-based Pan Am Equities just paid $45.15 million for the Fort Lauderdale Marriott Pompano Beach Resort & Spa.
An affiliate of the Carlyle Group and Urgo Hotels sold the 219-key hotel at 1200 North Ocean Boulevard in Pompano Beach for about $206,00 per room.
The 184,000-square-foot hotel includes about 8,000 square feet of meeting space and sits on nearly 3 acres of beachfront land. Carlyle and Urgo paid $8.55 million for the site in 2010 and completed the hotel in 2013, according to property records.
The property was the first new hotel to be built in the area since 2002. A number of Miami developers have plans for new beachfront projects in Pompano, including Lionheart Capital, Dev Motwani and the Related Group.
Pan Am Equities is a real estate development and management company owned by the Manocherian family, which owns high-end properties throughout Manhattan, including the New York Health and Racquet Club.
Carlyle Group is one of the world’s largest asset managers with more than $200 billion of assets. Bethesda-based Urgo Hotels, led by Daniel Urgo, operates high-end hotels.