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South Florida

Investors are hot for South Florida DoubleTrees

DoubleTree by Hilton Deerfield Beach-Boca Raton (via CBRE Hotels)
DoubleTree by Hilton Deerfield Beach-Boca Raton (via CBRE Hotels)

Yet another DoubleTree hotel in South Florida changed hands, this time for $14.02 million.

A company tied to New York-based Garrison Investment Group picked up the DoubleTree by Hilton Deerfield Beach-Boca Raton in a transaction recorded on Wednesday, according to Broward County records. The seller of the 220-room hotel is CS Hospitality of Menomonee Falls, Wis. CS paid $15.4 million for the 100 Fairway Drive property in February 2005.

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Garrison did not obtain financing for the purchase. The hotel was constructed in 1985.

CBRE Hotels arranged the sale.

Last month, DoubleTree properties in West Palm Beach and Sunrise sold for a combined $50 million. — Eric Kalis

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CBREDeerfield Beach