Blackstone Group has acquired the Residence Inn Fort Lauderdale Weston hotel for $17.4 million. Built in 2002, the three story 100 room hotel on Weston Road traded for $174,000 per key. Blackstone purchased the property from the vendor, Royal Palm Beach-based Pinnacle Hotel Management, who had owned the asset for the past 15 years. Blackstone manages $93 billion in assets worldwide, investing in commercial and residential properties.
