Blackstone’s Stephen Schwarzman and the Hampton Inn resort at 5701 Madison Avenue (Google Maps, Getty)
Blackstone bought a 113-room resort in Tamarac for $17.8 million to a pair of hotel buyers based mostly in central Florida.
Entities managed by Ramzan and Amin Gulamali acquired The Hampton Inn & Suites at 5701 Madison Avenue, information clearly show. The Gulamalis, principals of Altamonte Springs-centered lodge improvement and investment organization F + F, acquired a $14.3 million mortgage from Ocean Lender.
The deal breaks down to about $158,000 for each space.
Blackstone, the New York-based expense giant led by Chairman, CEO and co-founder Stephen Schwarzman, compensated $9.5 million for the four-story lodge in 2015, documents demonstrate. The making was completed in 2009.
Blackstone, which noted $2.3 million in web earnings in the third quarter, has purged other South Florida hotel houses from its portfolio in current months.
In August, the firm’s Texas-dependent subsidiary, G6 Hospitality, offered 5 Motel 6 and Studio 6 lodges in Coral Springs, Cutler Bay, Dania Seashore, Fort Lauderdale and West Palm Seashore. Affiliate marketers of Georgia-centered Global Resort Group paid $61 million for the five attributes. The transaction was element of a larger sized $279.4 million deal that included three other lodges in Florida.
Hotel revenue throughout the tri-county location have picked up in the latest months. In September, a joint enterprise amongst Montford Group and Opterra Capital paid $28 million for a 96-area Hilton Garden Inn in Miami Seaside Wurzak Hotel Team picked up a 221-crucial DoubleTree by Hilton Resort in Deerfield Seaside for $27 million and an affiliate of Catalyst Funds Team acquired the 81-home Balfour Hotel in Miami Beach for $39.3 million.
The exact same month, Tom Assouline and associates of the Busch beer spouse and children compensated $33 million for the Red South Beach Lodge, a 110-critical house in Miami Beach front. In two other separate offers, Highgate Funds Management marketed a pair of La Quinta Inn by Wyndham resorts close to Miami Global Airport for a mixed $33 million.
