Transactions - SEPTEMBER 2, 2014

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Thayer buys Florida hotel for $535m

by Andrea Waitrovich

Thayer Lodging Group has purchased the 998-room Westin Diplomat Resort & Spa in Hollywood, Fla., from Capital Hotel Management, on behalf of United Association, a plumbers and pipefitters union based in Annapolis, Md.

An official announcement was not released; however, Real Capital Analytics reports the sales price was approximately $535 million or $536,072 per room. United Association developed the hotel in 2002.

The transaction includes the sale of the Westin Diplomat Golf & Tennis Club in Hallandale Beach, Fla. The firm also bought several adjacent parcels.

Thayer also purchased beachfront parcels and open parcels adjacent to the hotel for $55 million under the name Diplomat Landings Owner.

Thayer plans to conver

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy