JLL Hotels & Hospitality arranges sale of Boca Raton Resort & Club
The sale of Boca Raton Resort & Club demonstrates resort's investment appeal and the strength of South Florida's lodging market
MIAMI, June 27, 2019 – JLL Hotels & Hospitality announces that the firm advised on the sale of the 1,047-key Boca Raton Resort & Club, a Waldorf Astoria Resort located in Boca Raton, Florida. MSD Partners, L.P. purchased this premier asset.
Senior Managing Director Jeffrey Davis, Managing Director Gregory Rumpel and Vice President Zayli Rodriguez led the JLL team on the sales transaction.
“Boca Raton Resort & Club is a truly irreplaceable trophy asset, a rare opportunity to acquire a generational resort,” said Rumpel.
Added Rodriguez, “The seller has been a great steward of the Boca Raton Resort, but MSD Partners is the perfect group to take this one-of-a-kind resort to the next level. Buoyed by strong economic fundamentals and a pro-business environment, South Florida lodging markets continue to perform incredibly well and are top targets among investors.”
Boca Raton Resort & Club is one of the premier resort destinations and private club facilities in the United States. The property, which was built in 1926, today comprises 1,047 hotel rooms across 337 acres. Its amenities include two 18-hole golf courses, a 50,000-square-foot spa, seven swimming pools, 30 tennis courts, a full-service 32-slip marina, 13 restaurants and bars and 200,000 square feet of meeting space. The property fronts both the Intracoastal Waterway and the Atlantic Ocean, where its beach extends a half mile. The property will continue to be managed by Hilton under the Waldorf Astoria Hotels & Resorts brand.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $63.2 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 5,420 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.