A joint venture between non-U.S. offered real estate funds managed by Credit Suisse Asset Management and real estate funds managed by Trinity Fund Advisors, an affiliate of full-service private real estate investment firm Trinity Real Estate Investments, has acquired The Diplomat Beach Resort in Hollywood, Fla., from a Brookfield private real estate fund.
The sales price was not disclosed, but the Wall Street Journal reported it was under contract for $835 million last week.
The deal is one of the largest hotel acquisitions in the United States since August 2021.
The new owners also announced the signing of a management agreement with Hilton to oversee the resort’s operations under the Curio Collection by Hilton flag.
The Diplomat Beach Resort is the only oceanfront resort in South Florida and has more than 1,000 rooms and 200,000 square feet of meeting-and-event space. The property completed an $90 million renovation and boasts an extensive a