DEAL OVERVIEW

Hunter Hotel Advisors has been exclusively retained relating to the solicitation of offers to acquire the 94-room TownePlace Suites Fort Lauderdale Weston located at 1545 Three Village Rd Weston, FL 33326 directly adjacent to Weston Town Center. The Hotel is proximate to multiple healthcare and corporate demand generators in the affluent, master-planned community of Weston. Just over two miles from the Hotel is Cleveland Clinic Weston Hospital, a 258-bed, fully integrated medical campus that includes a 24-hour emergency department, diagnostic centers, and outpatient surgery facilities. Corporate demand is derived from the Sawgrass Technology Park (515,000 square feet with notable tenants which include American Express Corporation, Ford’s Sunrise Engineering Center, New York Life, and Pet Supermarket’s HQ) and several distribution centers. Leisure demand to the area is driven by Everglades National Park, Amerant Bank Arena (home to the NHL’s Florida Panthers), Weston Town Center (located next to the Hotel), and the Sawgrass Mills Mall. 

This offering represents a unique opportunity to acquire an institutional quality extended stay hotel in a high barrier to entry market and allows a new owner the opportunity to immediately capitalize off post-renovation rate and operational upside immediately following completion of all encompassing ~$3.0MM PIP currently underway at the Property.  

PREMIER LOCATION IN THE HEART OF WESTON, PROXIMATE TO HEALTHCARE, CORPORATE, AND LEISURE DEMAND GENERATORS. 

The Hotel is located off Interstate 75, in the affluent, master-planned community of Weston and is located just over 2 miles from the 258-bed Cleveland Clinic Weston Hospital, proximate to a number of office parks including Sawgrass Technology Park (515,000 square feet of office space with tenants including: American Express Corporation, Ford’s Sunrise Engineering Center, New York Life’s South Florida General Office, and Pet Supermarket’s Corporate Headquarters), and distribution centers totaling 31.5 million square feet. Leisure demand is driven by Weston Town Center (located adjacent to the Hotel), Everglades National Park, Amerant Bank Arena, (home to the NHL’s Florida Panthers), and the Sawgrass Mills Mall (2.4 million square feet of retail space). Additionally driving demand is Nova Southeastern University, a private university that features 14 colleges, more than 150 programs of study, and more than 22,000 enrolled students. 

TURNKEY ASSET WITH RAMPING UPSIDE. 

As of June 2024, the Hotel is undergoing a comprehensive, multi-phase renovation that has an estimated total cost of $3MM. Phase I of the improvement project was completed in 2022 while Phase II will be finished in 4Q2024. While renovations have impacted Hotel operations since 2022, a new owner will have the opportunity to immediately capitalize on post-renovation growth. The improved product offering, combined with the continued market growth expectations will result in RevPAR and NOI levels well exceeding in-place metrics. 

UNIQUE OPPORTUNITY IN A HIGH BARRIER TO ENTRY MARKET. 

The TownePlace Suites Fort Lauderdale Weston presents a rare opportunity for a buyer to acquire a high performing lodging asset in the supply-constrained Weston submarket of Fort Lauderdale. Given the scarcity of permits and the high cost of land in the area, this offering represents a distinctive opportunity to enter a market with substantial barriers to entry.