100 Fairway Travel, Deerfield Beach with Ally Visram and Howard Wurzak (Wurzak Lodge Group, Google Maps)
Wurzak Resort Team is bringing a very little Philadelphia-type hospitality to Deerfield Beach.
The firm acquired the DoubleTree by Hilton Hotel Deerfield Beach front-Boca Raton for $27 million, marking its fourth resort acquisition in Broward County.
Led by the father-son duo Howard and Jake Wurzak, the Philadelphia-primarily based company purchased the 221-home lodge at 100 Fairway Drive from Vista Myrtle Beach front LP, an affiliate of Vista Group, data demonstrate. The rate equates to $122,000 for each critical.
Wurzak secured a $27.5 million bank loan from Amerant Lender to finance its buy of the 6.2-acre house, records show.
Vista experienced compensated $22.3 million for the lodge in 2018, or $101,000 per critical. The 162,600-sq.-foot lodge was built in 1985, and has 16,800 square ft of function space and 10 assembly rooms.
Brothers Amin and Ally Visram head the Binghamton, N.Y.-based Vista property administration team as CEO and COO, respectively. Vista owns a portfolio of inns sprinkled across the U.S. and Canada, like the Marina Inn at Grande Dunes in Myrtle Beach front, S.C., according to its site. The firm’s other investments include retirement communities, buying centers and workplace place.
Wurzak owns three other lodges in Florida, such as the Ingredient Fort Lauderdale, the Renaissance Fort Lauderdale Cruise Port Hotel, and the Dalmar, also in Fort Lauderdale, in accordance to the firm’s web site. The rest of the group’s portfolio is distribute across Pennsylvania and Virginia.
South Florida’s lodge current market has skilled a flurry of activity in current months. Associates of the Busch beer family members joined forces with Tom Assouline of Assouline Money to buy the Purple South Beach front resort for $33 million. Toronto-centered Catalyst Capital Team acquired the Lord Balfour lodge in Miami Seaside for $39.3 million. And in a lawsuit concerning RH, the luxury household furniture manufacturer previously known as Restoration Components, and its Miami Layout District landlord, court docket paperwork disclosed strategies for a $100 million renovation and RH branding of the historic Savoy hotel in Miami Beach front. The lawsuit was settled, but it remains unclear if the plans for the Savoy are nonetheless in participate in.
