The Hyatt Regency Pier Sixty-Six (Pier 66) and Pier 66 marina has been acquired by the Tavistock Development Company for $163.27 million. Regarded as one of the biggest commercial deals in Broward County this year, the asset is located at 2301 SE 17th Street in Fort Lauderdale. The sale included the property and redevelopment rights for the 22.7 acre site, which features 384 guestrooms and suites in a 17-story tower and two lanai-style buildings. Approved plans call for the addition of 58 residential units spread across two 11-story towers and more than 30,000 sqf of retail and office development. The landmark hotel has been in operation since the 1960s.
CBRE Hotels’ Christian Charre, Paul Weimer, and Natalie Castillo represented the seller, The Blackstone Group. “With its strong marina operation and high-performing waterfront resort in one of South Florida’s top markets, Pier 66 is a complex asset,” said Christian Charre, senior vice president, CBRE Hotels. “After listing the property in February of this year, we were able to attract buyers from around the globe. We are now very pleased to have facilitated the sale of this outstanding investment opportunity, which already comes with city-approved plans to further develop the site.”
