Hotel REIT picks up Hampton Inn Fort Lauderdale for $18M

A Miami-based hospitality group sold the Hampton Inn Fort Lauderdale Downtown Las Olas for $18.1 million, according to Broward County records.

City Center Hotel Group sold the 156-key hotel, which was developed in 2002, to an affiliate of Apple Hospitality REIT. The 37,105-square-foot site last sold for $1.2 million in 2000, according to Broward property records.

The 139,722-square-foot Hampton Inn includes an outdoor swimming pool and Jacuzzi, a gated parking garage, gym, and meeting rooms ranging from more than 300 square feet to 1,638 square feet.

Apple Hospitality owns 173 properties across the U.S., including select-service hotel brands such as the Hilton Garden Inn, Courtyard Marriott and Homewood Suites, according to the company’s website. The real estate investment trust posted a 7.6 percent increase in revenue per available room for the first quarter of this year.